Bitcoin OG Sells $72 Million in BTC as Whale Activity Surpasses 80% of Exchange Inflows

A long-time Bitcoin holder who acquired 5,000 BTC in 2013 sold 1,000 BTC for $71.6 million this week. The transaction highlights an ongoing trend of whale-driven exchange inflows, with large holders continuing to liquidate portions of their holdings. Onchain analytics firm EmberCN noted that the wallet has now moved 3,500 BTC, totaling $332 million in sales to date.

The whale's activities are part of a broader increase in large-holder activity. According to CryptoQuant, the Bitcoin exchange whale ratio reached 0.83 on March 14, indicating that the top 10 BTC deposits accounted for 83% of total inflows. The ratio has since dropped to 0.66, but whales still represent the majority of inflows.

Bitcoin's price reacted to the Federal Reserve's decision to hold interest rates steady at 3.50–3.75%. The price fell to around $70,500 amid global uncertainties and rising energy costs following an attack on Iran's South Pars gas field.

Why Is Whale Activity Surging?

Large Bitcoin holders are increasingly depositing assets on exchanges, signaling potential market positioning. Lookonchain reported that Owen Gunden, an early Bitcoin investor, sold another 650 BTC for $46.3 million. Arkham data shows Gunden has already sold 11,000 BTC, valued at over $1 billion, in recent months.

The whale's actions align with broader trends observed in the market. Analysts cite several factors, including profit-taking after a multi-year bull run and the need to raise liquidity amid macroeconomic uncertainty. The whale previously bought Bitcoin at an average price of $332, now selling at an average of $94,786, securing around $330 million in gains.

What Do Analysts Foresee Next?

High interest rates are expected to continue suppressing demand for risk assets, including cryptocurrencies. Illia Otychenko, a lead analyst at CEX.IO, noted that XRP and Bitcoin are likely to remain under pressure until a rate cut or major regulatory development occurs.

Cloudflare's recent strategic moves in the cybersecurity space have also captured investor attention. The company is expanding its AI security partnership with SentinelOne and integrating post-quantum encryption into its SASE platform. These initiatives are seen as a key growth driver, particularly as the company works to recover from a $102.27 million net loss in 2025.

Analysts remain cautious about potential overbuilding in AI infrastructure and slower monetization of AI services, which could affect Cloudflare's long-term growth.

Meanwhile, the partnership between Cloudflare and Coinbase is being closely watched. Reports indicate that Coinbase plans to use Cloudflare's infrastructure for stablecoin-based AI agent payments via the x402 protocol. The development has already pushed Cloudflare's shares up 3.4%.

What Lies Ahead for the Crypto Market?

Bitcoin whales are likely to continue influencing short-term price action as they manage their positions. The market remains sensitive to macroeconomic signals, especially from the Federal Reserve. Investors are also watching for further developments in the geopolitical landscape, particularly in the Middle East, which could impact energy prices and inflationary pressures.

For now, the focus is on whale activity and whether further large-scale selling will impact Bitcoin's liquidity and price stability. Analysts expect the market to remain volatile until macroeconomic uncertainty subsides and central banks signal a clearer path forward.