Massive Bitcoin Shift: Long-Dormant Wallet Awakens, Moves Millions in Historic Transfer
After years of silence, a crypto whale just shook the entire market.
The Movement That Broke the Internet
A wallet untouched since Bitcoin's early days suddenly transferred millions in value—triggering instant speculation across trading floors and Twitter threads. Was this a strategic repositioning or an early holder finally cashing out?
Why This Transfer Matters
Large movements from dormant addresses often signal major market shifts. They create volatility, spark fear or euphoria, and remind everyone that old money still controls the game. This isn't just a transaction—it's a narrative.
Timing, Motive, and Market Impact
No one moves that much Bitcoin without a reason. Whether it's hedging, profit-taking, or preparation for a larger play, the action itself moves markets more than any fundamental news. Classic finance would call it 'smart money'—crypto just calls it Tuesday.
When sleeping giants wake, everyone pays attention. Or at least, everyone who doesn't want to get trampled.
An old Bitcoin
$111,136 whale stirred the market on August 27 by transferring 750 BTC, valued at $83.3 million, to Binance. The transfer was executed when Bitcoin was trading at $111,000, resulting in substantial profit from assets the whale had held since 2013.
The Enormous Transfer from a 12-Year-Old Wallet
According to data shared by the blockchain analysis platform Lookonchain, the wallet responsible for this massive transfer initially purchased the BTCs twelve years ago at a price of $332 each, paying a total of $249,000. A significant portion of these assets has now been moved to Binance.
Post-transaction, the wallet, identified as “bc1q5…9mfcm,” retained 750 BTC. An associated wallet, “bc1ql…ltg6ym,” holds approximately 2,500 BTC. Data from Arkham Intelligence indicates that the total value of the whale’s bitcoin holdings stands at $276.5 million.
Both wallets are reported to utilize the Bech32 format that was introduced with the SegWit update, which is recognized for its advanced error detection mechanism and enhanced security features.
Continued Activity from Dormant Wallets
Recently, many wallets inactive for over a decade have begun to execute transactions, shifting thousands of BTC to exchanges or new wallets. Transfers have even been reported from wallets belonging to long-term miners dating back 15 years. The transaction from this 12-year-old wallet is the latest in a series of increased activities from old wallets during the summer months.
Experts suggest these transactions do not necessarily equate to immediate selling pressure. Some veteran Bitcoin whales occasionally fragment their assets, MOVE them to new wallets, or test market liquidity through partial transfers. Nevertheless, large transactions like these remain under close scrutiny, especially during times of heightened volatility.
Meanwhile, some seasoned investors have been shifting a portion of their assets to Ethereum
$4,592. The rise in institutional adoption and substantial inflows from spot ETFs are highlighted as main drivers supporting this transition from Bitcoin to Ethereum. This rotation reflects market participants’ interest not only in Bitcoin but also in diversifying into various cryptocurrencies.
