A Bitcoin whale holding nearly 5,908 BTC since 2017 transferred its entire balance to a new address. But there's no sign it's selling yet.

Galaxy Digital says the largest redistribution of dormant Bitcoin since 2017 is mostly complete, while a legal battle over 3.8 million BTC adds uncertainty.

The coins went to a fresh address rather than an exchange, so nothing has been sold yet.

A bitcoin OG wallet transferred 5,908 BTC to a new address on Wednesday, according to Lookonchain, citing Arkham data.

A Bitcoin whale holding nearly 5,908 BTC since 2017 transferred its entire balance to a new address. But there's no sign it's selling yet.