OKX Receives Portion of $4.75B Bitcoin Whale Transfer After 14-Year Dormancy

A dormant Bitcoin whale has awakened, moving 40,192 BTC (worth $4.75 billion) after 14 years of inactivity. This follows a previous July 4 transaction where the same entity transferred 80,000 BTC ($9.5 billion). Galaxy Digital's OTC desk handled most of the recent transfers, with portions routed to OKX and other wallets. The remaining holdings were consolidated, sparking speculation about the whale's intentions and market impact.

Dormant Bitcoin Whale Moves $4.75B in BTC After 14 Years

A long-dormant bitcoin whale has resurfaced, transferring 40,192 BTC worth $4.75 billion after 14 years of inactivity. The movement follows an earlier July 4 transaction where the same entity shifted 80,000 BTC ($9.5 billion) across eight new addresses.

Galaxy Digital's OTC desk received the bulk of the recent transfers, with some funds subsequently routed to OKX and other unidentified wallets. The remaining holdings were consolidated into a single address following test transactions—a pattern suggesting potential future sales.

Market observers note the whale likely originated from Bitcoin's 2011 mining era. Such large-scale movements through OTC channels allow major holders to avoid destabilizing spot markets, though they often precede strategic portfolio rebalancing during price rallies.

Whale Activity and Rising Metrics Fuel Hyperliquid's Bullish Momentum

Hyperliquid's HYPE token surged 5% in 24 hours, buoyed by a smart whale aggressively adding Leveraged long positions. The same entity, already sitting on 115% unrealized gains, deployed 10x leverage on HYPE and PEPE alongside high-stakes bets on BTC (40x) and ETH (25x). This aligns with the exchange's growing traction since launch.

Derivative metrics flash green: Hyperliquid now ranks sixth in open interest at $14.29 billion, eclipsing OKX in cashless settlement systems. Funding rates turned positive at 0.08%, confirming buyers' willingness to pay premiums. The DEX's $12.65 billion daily volume—though a quarter of OKX's—fuels a buyback-and-burn mechanism that could amplify upward pressure.