According to @lookonchain, a whale moved 3,500 BTC worth $408.63M to a new wallet about 10 hours ago after roughly three years of dormancy, source: @lookonchain on X, Aug 23, 2025. According to @lookonchain, the same entity withdrew 3,500 BTC from Gemini three years ago at $29,620 per BTC for a total of $103.67M, source: @lookonchain on X, Aug 23, 2025. According to @lookonchain, the position now reflects an unrealized profit of about $305M, equivalent to a 294% gain from the reported cost basis, source: @lookonchain on X, Aug 23, 2025. Based on @lookonchain’s reported valuation, the transfer implies an approximate current BTC price near $116,750 per coin, derived from $408.63M divided by 3,500 BTC, source: @lookonchain on X, Aug 23, 2025.

According to @lookonchain, a newly created wallet has withdrawn 3,500 BTC, valued at $415.8 million, from Gemini exchange over the past four days. Such large-scale Bitcoin movements typically indicate significant whale activity, which can lead to increased market volatility or signal accumulation ahead of potential price moves. Traders should closely monitor BTC liquidity and exchange flows, as large withdrawals like this may impact short-term price dynamics and overall market sentiment (source: @lookonchain).