In a significant development in the cryptocurrency world, a Bitcoin address that has remained inactive for over a decade recently moved a substantial portion of its holdings. This address, which had accumulated over 479 Bitcoin—equivalent to more than $52 million—transferred more than 80 BTC, valued at roughly $8.9 million, to newly created addresses on Thursday.
According to blockchain data, this is the first transaction from the address since 2012. Although the address had received small amounts of Bitcoin sporadically over the years, the movement of such a large sum is notable and could signal shifting dynamics among major crypto holders.
This transaction is part of a larger trend in which several large holders, often referred to as “whales,” have been making significant moves with their assets recently. Some of these whales, which hold over 1,000 BTC, have been converting their Bitcoin into Ethereum or liquidating their positions entirely. For example, a major holder deposited 2,000 BTC—valued at over $216 million—into the Hyperliquid exchange, subsequently selling it for Ethereum.
In earlier movements, another whale shifted approximately 670 BTC (worth around $75 million) across four wallets to open leveraged positions on Ethereum. Additionally, a separate whale moved 3,000 BTC, valued at more than $349 million, after holding the assets for an entire decade. Just last month, a significant transaction involved a mysterious whale transferring 80,000 BTC after a 14-year hold, with institutional crypto exchange Galaxy Digital facilitating what was described as one of the largest Bitcoin transactions in history on behalf of a client.
Typically, whales may include early crypto investors or companies that participated in Bitcoin mining, and their decisions to move funds can influence market behavior. When these entities become active, there may be increased selling pressure, causing some analysts to speculate that such movements can help stabilize prices by preventing dramatic fluctuations.
Currently, Bitcoin is trading below $110,000, having experienced a decline of more than 2% over the past 24 hours. The leading cryptocurrency has dropped nearly 12% since reaching an all-time high of $124,128 last month, and it has maintained a range between $110,000 and $120,000 over the past two months. Notably, a prediction market indicates that nearly 70% of participants anticipate Bitcoin will dip to $105,000 rather than climb to $125,000, which would surpass its previous record high.
