Coinbase-Linked Bitcoin Whale Awakens: $8.6 Billion BTC Transfer After 14 Years Sparks Market Buzz

A dormant Bitcoin wallet linked to Coinbase rewards from 2011 suddenly sprang to life on July 5, 2025, moving 80,000 BTC (worth $8.6 billion) in eight equal batches—marking its first activity in over 14 years. While the massive transfer initially raised sell-off concerns, blockchain analysts at Arkham Intelligence suggest the movement likely represents wallet reorganization rather than impending market pressure. The coins were originally mined via Coinbase in 2011 when BTC traded below $10, making this one of the most profitable dormant holdings ever activated. This event has reignited discussions about early Bitcoin adopters, the longevity of crypto investments, and the potential market impact of ultra-long-term holders finally moving their assets.

Dormant Bitcoin Whale Moves $8.6 Billion After 14 Years, Sparking Market Speculation

A long-inactive bitcoin wallet suddenly stirred on July 5, 2025, transferring 80,000 BTC—worth approximately $8.6 billion—for the first time in over 14 years. Blockchain analytics firm Arkham Intelligence confirmed the movement involved eight batches of 10,000 BTC each, originally mined in 2011 via Coinbase rewards.

Contrary to initial fears of a sell-off, Arkham suggests the transfers likely represent a technical upgrade from legacy addresses to SegWit format. The coins remain intact, with no evidence of liquidation. Bitcoin's price briefly dipped to $107,000 but held firmly above the $100,000 threshold, demonstrating market resilience.

Speculation swirls around the identity of the whale, with early Bitcoin evangelist Roger Ver and legendary miner ArtForz among the suspected owners. The event underscores Bitcoin's maturation as institutional-grade infrastructure, where billion-dollar holdings can migrate without destabilizing markets.

Coinbase Hacker Resurfaces with $12M ETH Purchase After May Liquidation

A hacker tied to the $300 million Coinbase breach has reemerged, purchasing 4,863 ETH worth $12.55 million on July 7. The MOVE follows a May liquidation where the same entity sold 26,762 ETH for $69.25 million at $2,588 per token.

Ethereum's bullish sentiment accompanies the transaction, with 60% of ETH holders currently in profit. The hacker previously taunted on-chain investigator ZachXBT in May, embedding a meme video and derogatory message in an ethereum transaction.

Thorchain facilitated the attacker's $42.5 million cross-chain movement from Bitcoin to Ethereum earlier this year. Etherscan had previously flagged the wallet address as "Fake_Phishing1158790."