A long-dormant Bitcoin wallet holding 479 BTC — roughly $52 million — moved a portion of its balance on Thursday, the first outbound transaction from the address since 2012, on-chain data shows.
Blockchain records indicate the address transferred just over 80 BTC (about $8,883,067) to new wallets. The holder hadn’t spent the main balance since 2012 but did receive small top-ups over the years.
This activity comes amid a wave of large transfers by major holders in recent months. On August 29 a holder deposited 2,000 BTC to Hyperliquid and converted it into Ethereum. Other notable moves include roughly 670 BTC split across four wallets to open leveraged long ETH positions, a 3,000 BTC transfer after a decade of HODLing, and a July sale of 80,000 BTC reportedly executed by Galaxy Digital for a client.
Whales aren’t always individual traders — early miners, institutions, or custodial services can control large dormant balances. When these entities move coins, markets often watch for increased selling pressure that can add to short-term volatility even if the move is non‑custodial (for custody changes, tax planning, or reallocation).
At the time of the transfer, Bitcoin was trading below $110,000, down more than 2% over 24 hours and nearly 12% from last month’s all-time high of $124,128. A Myriad prediction market showed nearly 70% of respondents expected BTC to fall to $105,000 rather than reach $125,000.
Investors should note that on-chain transfers don’t always signal liquidation. Monitor order books, liquidity, and exchange flows before making trading decisions — large wallet movements can precede selling, buying, or internal custody shifts.
Source: Decrypt. Read the original coverage for full details.