The funds haven’t moved since 2019 when the whale address received them.
The fifth-largest Bitcoin (BTC) holding address — also dubbed “37X” — has moved over $6 billion worth of BTC to three new addresses for the first time since 2019.
The Bitcoin whale transferred nearly its entire balance of 94,500 Bitcoin, worth $6.05 billion, on March 23, leaving only 1.4 BTC in the initial address, according to a March 25 X post by Arkham Intelligence. They wrote:
The transfer occurred during a period of increased institutional interest in Bitcoin, driven by the upcoming Bitcoin halving, which will slash block issuance rewards in half in 25 days.
