Ancient Bitcoin holders moved tens of millions of dollars to exchanges as Bitcoin fell and energy prices jumped after attacks on Gulf oil and gas infrastructure deepened the conflict involving Iran, Israel, and the United States.
One whale, identified as "bc1ql," sent 1,000 Bitcoin worth around $71 million to Binance. The same day, another early holder, Owen Gunden, transferred 650 BTC ($46 million) to Kraken, marking his first major sale in five months.
The transfers came as traders reacted to a broader risk-off move driven by the Middle East energy shock. Israel reportedly struck Iran’s South Pars gasfield, killing a senior Iranian official, while Iran attacked Qatar’s Ras Laffan natural gas complex.
Brent crude rose above $119 a barrel, and WTI briefly touched $100 before falling. Wholesale gas prices in Europe and the UK also spiked.
Bitcoin’s price fell 5% over 24 hours, trading at $70,439 as of Thursday, mirroring a 4.2% drop in gold prices.
