A major Bitcoin whale recently stirred the market by transferring 10,603 BTC, worth approximately $1.26 billion, from three wallets that had been inactive since December 13, 2020, when Bitcoin traded at around $18,000. According to Lookonchain, citing Arkham Intelligence data, each of the three wallets received between 3,000 and 4,000 BTC in 2020.
A Whale’s Long Dormancy Ends
The three wallet addresses had been inactive for almost five years. Two wallets had no activity since 2020, and the third had moved a small amount three years ago. Otherwise, the funds remained untouched. Data from Arkham suggests that these wallets may belong to one person, as they all interacted with a shared address.
This suggests potential shared ownership, although it remains unclear if one or more people own them. So far, the new wallets have not moved any of the Bitcoin since the transfer.
CryptoQuant analysts recently informed users on X about a sharp increase in Bitcoin inflows to exchanges from wealthy investors, commonly referred to as whales. The monthly average increased by nearly 61%, climbing from $28 billion to $45 billion from July 14 to 18. This pattern is similar to earlier market peaks when inflows over $75 billion often led to price consolidations.
What Will This Movement Result In?
This transfer has led to speculation about what the whale will do next. Some think the owner might sell the Bitcoin, which could affect the market. Others believe the owner may be restructuring their investments. No coins have gone to exchanges yet, so the market is watching closely, as moving such a large amount of Bitcoin can significantly impact the market. Investors and traders are monitoring the situation for updates.
Meanwhile, the recent transfer of $1.26 billion in Bitcoin by a dormant whale is not the only case; there have been other recent transfers from dormant wallets. For example, earlier this month, a Bitcoin whale that had been inactive for 14 years moved 20,000 BTC, worth approximately $2.18 billion, surprising the cryptocurrency world. The whale bought these bitcoins in 2011, earning 140,000 times their initial investment of $109,246.
These activities demonstrate how large, dormant holdings can significantly impact the market when they are activated. Investors and whales are closely monitoring market trends as they plan their next moves.
