Bitcoin News Today: Bitcoin Whale Moves 40,009 BTC Worth 4.68 Billion After 14 Years

A significant Bitcoin whale, which has been dormant for over a decade, has recently begun moving its holdings, sparking discussions about a potential sell-off. According to blockchain tracker Lookonchain, the whale, which reemerged earlier this month after 14 years of inactivity, has transferred nearly half of its 80,000 Bitcoin (BTC) holdings into new wallets. The total value of these transfers is approximately $4.77 billion, following a series of similar large-scale movements in recent days.

The original holdings were acquired in 2011, making this one of the oldest and largest Bitcoin wallets in existence. The activity began with the whale’s transfer of 9,000 BTC to Galaxy Digital wallets earlier this week, valued at about $1.06 billion, followed by another 7,823 BTC, worth around $927 million. Soon after, much larger transfers pushed the total shifted to 40,009 BTC, equal to about $4.68 billion at recent prices. While previous movements by the same whale pointed to mere wallet upgrades, the scale and destination of these latest transfers have the market on edge.

Large transfers by long-term holders often signal preparations to sell, especially when they align with strong price action like Bitcoin’s recent surge above $123,000. The flow of funds didn’t just stop with the whale’s transfers. On-chain data shows that Galaxy Digital has already sent 6,000 BTC, worth $706 million, to major exchanges including Binance and Bybit, adding weight to the idea of a potential sale. For now, Bitcoin is holding steady around $118,200. If the full 40,000 BTC makes its way to exchanges, the selling pressure could trigger short-term price volatility.

Meanwhile, the 80K-BTC whale is not the only one making moves. Earlier today, a separate wallet was spotlighted transferring 1,042 BTC, worth about $122.5 million, to a new address after sitting idle for six years. This second wallet originally received the coins back when Bitcoin was trading near $8,746, making the stash worth just $9.12 million at the time. The wave of activity adds to the growing trend of long-inactive wallets coming back to life as Bitcoin hovers near record highs, and whether these awakenings turn into full-scale liquidations remains to be seen.