Bitcoin News Today: Bitcoin Whale Transfer of 40,192 BTC Triggers 0.70% Price Drop

A major Bitcoin whale has reemerged after over a decade of silence, initiating a massive transfer of 40,192 BTC, valued at approximately $4.77 billion. This movement has sent shockwaves through the crypto market, as the wallet in question had remained inactive since 2011, making it one of the oldest and largest dormant addresses on record. The transfer began earlier this week with 9,000 BTC sent to wallets linked to Galaxy Digital, worth approximately $1.06 billion. Shortly after, another 7,823 BTC, valued at $927 million, followed. By the end of the spree, more than 40,000 BTC had changed hands.

Following confirmation of the transfer, Bitcoin’s price dropped nearly 0.70% in the past 24 hours. The cryptocurrency is currently trading at $118,603, down from recent highs near $123,000. In the last 24 hours, the price ranged between $117,284 and $120,065. This price drop suggests lower enthusiasm from market participants in response to the whale’s activity.

Adding to speculation, on-chain data shows Galaxy Digital transferred 6,000 BTC to exchanges like Binance and Bybit. These platforms are typically used to convert large holdings into fiat or stablecoins. This move indicates that the Bitcoin whale transfer may not simply be a wallet upgrade—it could be a setup for a large-scale liquidation.

Another dormant wallet also became active, transferring 1,042 BTC—now worth about $122.5 million—to a new address. This second wallet had been idle for six years. It originally received BTC when the coin was valued under $9,000. Now, that same stash has multiplied in worth more than 13 times.

Crypto analysts and institutional watchers have flagged the timing and magnitude of the Bitcoin whale transfer as potentially bearish. The market has seen increased whale activity in recent weeks, particularly from older wallets. Many believe these movements could indicate preparation to cash out while Bitcoin remains near its peak. Not all analysts believe the transfers are voluntary. Some suggested the original whale wallet might have been compromised. If the private keys were stolen or leaked, this would explain the sudden Bitcoin whale transfer after more than a decade of silence. Security concerns continue to grow, especially as more legacy wallets reawaken.

High-leverage traders have responded swiftly to the unfolding events. A well-known crypto trader closed a 40x long position with a profit and quickly opened a 40x short. This shift is part of a broader trend, with many whales and traders moving from long to short positions.

With half of the 80,000 BTC already moved, concerns are rising about what happens if the remaining half is sold. If another major Bitcoin whale transfer occurs, it could overwhelm exchange liquidity and drive prices down further. The market remains highly sensitive to large inflows of BTC, especially from whales with deep reserves.

The sentiment in the crypto space has shifted sharply. Investors who were once celebrating new highs are now adopting a wait-and-see approach. The sudden Bitcoin whale transfer has altered market psychology. Traders are watching blockchain data closely for more signs of incoming sales. Until clarity returns, short-term volatility may dominate.

The unexpected Bitcoin whale transfer of over $4.7 billion has reshaped the narrative in the cryptocurrency market. What began as a quiet week turned into one dominated by fear and caution. Whether the whale continues liquidating or not, the damage has been done. Traders now face a more uncertain landscape shaped by every major movement on the blockchain.