Awakening After 14 Years: Early Bitcoin Whale Addresses' Large-Scale Activity Sparks Market Attention

Source: DigitalToday Original Title: Whale Awakening After 14 Years… Satoshi Era Bitcoin 80,000 ‘Stir’ Original Link:

Bitcoin whale wallets that had been dormant for years are awakening, drawing market attention.

According to reports from blockchain media, in July, 80,000 Bitcoin from the ‘Satoshi era’ moved for the first time in 14 years, transferring a total of $8.6 billion in assets. Bitcoin purchased in 2011 at $21,000 has achieved over 400 million percent profit and re-entered the market. In the same month, an additional 10,000 BTC each moved from two addresses that had been inactive since 2011, when Bitcoin’s price was $108,000.

The return of these ‘whales’ has become more pronounced this year. Data from blockchain analysis firms indicate that 62,800 BTC held for over 7 years have moved between early and mid-2025, more than doubling compared to the same period last year.

On-chain indicators also show a flow of long-term holdings changing hands to new owners. The ‘HODL Wave’ indicator, which analyzes Bitcoin holding periods, reveals that the supply of long-term holders(LTH) peaked at the end of 2024 and has since been decreasing. The amount of coins held for over 5 years has decreased, while holdings of less than 1-2 years have increased, suggesting that the assets from early wallets that had been dormant for over a decade are being released into the market to find new owners.

However, experts caution that it is premature to interpret these large movements as a ‘sell-off bomb.’ Many of the moved coins have been transferred to non-exchange personal wallets or multi-signature wallets. These transfers are more likely for security enhancement, corporate restructuring, or internal asset redistribution for legal dispute resolution rather than for selling. Nonetheless, the market refers to this as the ‘whale awakening,’ closely watching as it signals profit-taking by long-term investors, a pattern that has historically repeated during previous bull markets.