Satoshi-era Bitcoin miner sends $203M in BTC to OTC desks

A Bitcoin miner from the Satoshi era has moved a significant amount of BTC to over-the-counter trading desks, raising concerns of increased selling pressure.

The miner transferred 2,650 Bitcoin, worth approximately $203 million, to FalconX and Cumberland, two major OTC platforms. The wallet still holds 6,000 BTC. The move comes as the broader cryptocurrency market faces a downturn, with many mining companies already under financial strain. On-chain data suggests the miner may be preparing to sell or hedge its position.

For cryptocurrency traders, large transfers from early miners are closely watched as they can signal potential sell-offs. Such movements reduce the supply of BTC held in long-term storage, increasing the amount available for trading. If the miner decides to sell, it could add downward pressure on prices, especially in a market already sensitive to miner behavior. NowPrice live crypto charts show how the market is reacting to these on-chain movements in real time.

Investors will monitor whether the miner continues to move funds to exchanges or OTC desks. The remaining 6,000 BTC in the wallet represents a substantial position that could be liquidated gradually. Additionally, the broader market's reaction to miner selling patterns and the upcoming halving cycle will be key factors to watch in the coming weeks.