Bitcoin Whales Awaken: Shocking Market Moves After 15-Year Hibernation
Sleeping giants of crypto just stirred—and they’re not whispering.
After a decade and a half of radio silence, Bitcoin’s original whales are making jaw-dropping maneuvers. These aren’t your average ‘buy the dip’ traders—we’re talking about entities holding genesis-block-era fortunes suddenly shifting tectonic plates in the market.
Why now?
Timing screams intentionality. With institutional adoption at all-time highs and regulators still fumbling with rulebooks (classic finance), the OG holders picked their moment perfectly. Some wallets moved sums that could crash small economies—if they weren’t strategically drip-fed into liquidity.
Market impact?
Expect volatility fireworks. When whales this size surface, they don’t just make waves—they trigger tsunamis. Trading algorithms will hyperventilate, while retail traders scramble to decode the ‘smart money’ signals. Meanwhile, Wall Street ‘experts’ will spin this as validation—conveniently forgetting these players were here before Satoshi’s whitepaper hit BitcoinTalk.
One thing’s certain: when dinosaurs dance, the ground shakes. And somewhere in Zurich, a private banker just spilled his $50 coffee.
$118,500 miner wallets, dormant since April 2010, reemerged by moving a total of 250 BTC to two new SegWit addresses. At the time when they first received 50 BTC as a block reward, the price of Bitcoin was a mere $0.003. This reward, valued at just $0.15 back then, now amounts to an astonishing $29.6 million. Experts highlight that these transfers, coming after approximately 15.3 years of inactivity, serve as a significant indicator of how the long-dormant supply is being absorbed.
ContentsThe Long Silence of bitcoin Whales Comes to an EndLimited Market Impact of Large Supply Movements
The Long Silence of Bitcoin Whales Comes to an End
For nearly fifteen years, these “OG” class miner wallets displayed no activity, offering amalgamated data without trace on the Blockchain. In-blockchain analysis platforms highlight the transition from old addresses starting with “1” to new SegWit addresses beginning with “bc1q.” For those unfamiliar, SegWit reduces error probability and enables enhanced features.
Analysts suggest that high price levels, storage security, and intergenerational wealth transfer are key motivations behind such unexpected transfers. Consequently, the transaction is seen more as an update to storage strategy rather than an action causing selling pressure. crypto Traders Are Rushing to This App – Here’s Why You Should Too
Another crucial detail emerging post-transaction is the stark contrast between 2010’s mining costs and today. Back then, consumer CPUs consuming roughly 95 W could mine a block in a few hours on the Bitcoin network. At that time, the US residential electricity price was around 11.5 cents per KW. Simple calculations reveal that electricity costs for a successful block were measured in mere cents. This underscores the vast gap between the production cost and the current value of the 50 BTC reward equating to millions today.
Limited Market Impact of Large Supply Movements
Throughout July, movements from similar old wallets on the Bitcoin network have been closely monitored, as the price of the largest cryptocurrency approaches its all-time high. Analysis platforms like Arkham, Lookonchain, and Spotonchain report that the transferred amounts have not influenced market psychology, given that the size of liquidity pools comfortably absorbs these offers. Meanwhile, some analysts emphasize that growing demand for Ethereum (ETH)
$3,844 has increased investor diversification, limiting pullbacks from singular large supply events.
Recent data show that Bitcoin has increased by 27% since the beginning of the year and is currently trading around $118,000. Presently, the price is just 4% below its all-time high recorded at $122,838.
The rise is driven primarily by increased institutional purchases, the relocation of long-term investors, and greater diversification in investor portfolios. Thus, even a crypto supply older than a decade falls short of exerting downward pressure on price.
You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.