Third-largest whale celebrates Bitcoin's birthday with 456 BTC buy

It is now 13 years since the genesis block of the Bitcoin (BTC) blockchain was created, which marked the beginning of the chain. To commemorate the occasion, the third-largest Bitcoin whale appears to be back after the new year holidays, and he or she has just completed the first sizable purchase of 2022.

On Jan. 4, the third-largest Bitcoin address added 456 BTC at an average price of $46,363, equivalent to around $21 million, according to data from Bitinfocharts. com.

456 #BTC (21,161,750 USD) transferred from #Coinbase to unknown wallethttps://t.co/1rWMaIYR0y

— Whale Alert (@whale_alert) January 3, 2022

At the time of this writing, the whale holds 120,845.57 BTC worth over $5.6 billion. The holder's identity remains a mystery, but it appears that the entity is making full use of the current price volatility. Bitcoin has dropped 1.7% in the last 24 hours and 8.9% over the last week, currently trading at around $46,603.

Related: Happy Birthday, Bitcoin! Industry players share a few words

Meanwhile, the bearish factors weighing on the cryptocurrency market at the end of 2021 have persisted throughout the first week of 2022 after Bitcoin's price fell below $47,000 on Jan. 1 and it continues to face strong headwinds on shorter timeframes charts.

Despite the short-term difficulties for Bitcoin, many investors remain enthusiastic. Analyst and pseudonymous Twitter user GalaxyBTC recently shared this chart showing a potential breakout in the first quarter of 2021.