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Decade-Old Bitcoin Whale Moves Billions Amid Market Rally
A legendary Bitcoin whale, holding a wallet inactive for over 14 years, has suddenly sprung to life, triggering widespread speculation in the cryptocurrency community. According to blockchain analytics platform Lookonchain, this whale began moving nearly half of its astonishing 80,000 Bitcoin holdings—valued at approximately $4.77 billion—into new addresses over the past few days.
Historic Holdings Enter the Spotlight
The original Bitcoin stash dates back to 2011, making this one of the most significant and long-standing wallets in the Bitcoin ecosystem. The activity kicked off with a massive 9,000 BTC transfer—worth about $1.06 billion—to wallets linked to Galaxy Digital. Shortly after, another transfer of 7,823 BTC ($927 million) followed, bringing the total shifted to a striking 40,009 BTC, valued at around $4.68 billion at today’s prices.
Notably, previous movements by this Bitcoin pioneer, or "OG whale," appeared to be simple wallet upgrades. However, the scale and the pattern of these latest transactions have set off alarm bells among crypto traders and investors, especially as they coincide with Bitcoin’s climb above $123,000.
Could a Major Bitcoin Sell-Off Be Next?
Large-scale transfers by long-term holders are often interpreted as signals of impending sales, particularly when Bitcoin prices are surging. On-chain data has confirmed that Galaxy Digital subsequently sent 6,000 BTC—worth about $706 million—to top cryptocurrency exchanges such as Binance and Bybit, increasing market concerns about a possible large-scale liquidation.
Currently, Bitcoin is hovering near $118,200. If the full 40,000 BTC tranche is deposited into exchanges, analysts warn it could trigger significant short-term volatility and heightened selling pressure.
Long-Inactive Crypto Wallets Resurface
This shifting of assets isn’t limited to just one whale. Earlier today, another dormant wallet transferred 1,042 BTC (about $122.5 million) to a new address after remaining untouched for six years. When originally received, those coins were worth only $9.12 million, with Bitcoin priced around $8,746 at the time.
The recent burst of activity from long-inactive Bitcoin addresses comes as the cryptocurrency approaches record highs. The industry is watching closely to see whether these awakenings signal further movements or full-blown sell-offs, outcomes that could reshape Bitcoin price trends in the weeks ahead.
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