Satoshi Nakamoto’s wallets lose value drastically, registering a $5 billion drop in 24 hours. This event occurs on the eve of the 17th anniversary of the Bitcoin whitepaper, as the price of BTC falls below $107,000. The data analytics platform Arkham Intelligence was the original source for monitoring these addresses.
Arkham’s report detailed the magnitude of the decline. It noted that Satoshi Nakamoto is down nearly $5 billion in the last 24 hours. This observation was made when Bitcoin was trading near $108,000. However, the selling pressure continued, pushing the asset below $107,000. Following this decrease, the total value of the holdings attributed to BTC’s creator is now estimated at $118.4 billion.
Furthermore, this move is particularly noteworthy for its timing. It happens just as the community prepares to celebrate the publication of Bitcoin’s foundational document. The market shows signs of widespread weakness, as retail and institutional investors are in full retreat. This is happening despite a recent interest rate cut by the Federal Reserve, a measure that historically favors crypto assets.
Has Bitcoin deviated from Satoshi’s original vision?
On the other hand, market sentiment is clearly trending toward fear. Investor confidence is a fundamental pillar in this industry. Symbols and narratives play a crucial role in the digital economy. Therefore, the drop in the creator’s own wallets on such a significant date could be interpreted as a negative omen for the short term. This symbolic event could accelerate bearish trends if panic takes hold among participants.
The current situation highlights the fragility of investor sentiment. Experts like Ray Youssef have publicly criticized Bitcoin’s deviation from its original decentralized vision. They argue that the industry is more entangled with governments than ever before. It remains to be seen whether this dip is just a temporary adjustment or the beginning of a deeper correction, right on the leading cryptocurrency’s anniversary.
