12 Years ago Bitcoin Whale Who Hodled Through Thick and Thin Sells 500 Coins Worth $47.77 Million

A Bitcoin whale who had held 500 BTC for 12 years sold the entire position in January 2026. The sale was valued at $47.77 million, based on the market price at the time. The transaction marked one of the largest single-position liquidations by a long-term holder in recent months.

The whale's decision to sell came amid broader market volatility and a shift in institutional and retail investor sentiment. Bitcoin had seen a resurgence in 2026, with ETF inflows pushing the price to multi-month highs. Whale activity in early January showed increased accumulation, but this case highlights a contrasting move toward partial divestment.

The sale raised questions among market analysts about the whale's strategy and whether it was a sign of profit-taking or a reallocation of assets. Whale transactions of this magnitude typically influence market sentiment and liquidity, especially in a consolidating price environment.

Why Did This Sale Happen?

Bitcoin whales often sell large positions after long holding periods to lock in profits. The 500 BTC sale likely represented a decision to realize gains after a 12-year holding period. The price of Bitcoin in January 2026 had already recovered from a late-2025 dip, which may have prompted the whale to take advantage of favorable market conditions.

Such transactions are not uncommon during periods of high demand and price appreciation. However, the timing of this sale—just as whale activity showed signs of accumulation—has drawn attention from traders and analysts alike according to market analysis.

How Did the Market React?

The immediate market impact of the sale was muted. While the volume from such a large transaction would typically push prices lower, Bitcoin remained resilient, trading near $97,000 at the time. This resilience was attributed to strong ETF inflows and broader investor confidence.

Market analysts noted that the whale's move did not trigger a significant sell-off, indicating that the broader market was well-supported by institutional demand and bullish sentiment. The total inflows into Bitcoin ETFs hit $754 million on the day of the sale, reinforcing the notion that buying pressure outweighed the impact of large sell orders.

What Are Analysts Watching Next?

Analysts are closely monitoring whale behavior to gauge broader market sentiment. In January 2026, whale wallets had accumulated over 30,000 BTC in just five days, worth approximately $2.76 billion. This trend suggested that many long-term holders were building positions ahead of a potential breakout.

The contrast between the whale selling 500 BTC and the overall trend of accumulation raises questions about whether this was an isolated move or part of a larger pattern. Investors are watching for follow-up activity from large holders to confirm whether the bull case remains intact.

Market participants are also keeping a close eye on Bitcoin's performance against key indicators like the 100-day EMA and MACD. A close above $95,987 would solidify the short-term bullish outlook, while a breakdown below current support levels could signal a more cautious environment.

The broader market context includes rising institutional demand, regulatory developments, and the potential for Bitcoin to be adopted by national treasuries. Executives from firms like Strategy have predicted increased sovereign buying in 2026, which could further support the price.