- A dormant wallet holding 10,000 BTC became active after 14.2 years.
- As the dormant whale made moves, Bitcoin price dipped to $107K level.
- On-chain data shows long-term holders are now selling their coins at large profits.
A dormant BTC whale shook the market yesterday. The massive moves made Bitcoin drop from $109K to $107K. Wallets involved include Binance and Coinbase Institutional, sparking speculation of major repositioning. The abrupt movement shook short-term trends in BTC price.
Dormant Whale With 10,000 BTC Awakens
The most notable trigger came from a dormant wallet holding 10,000 BTC, now valued at over $7.6 billion. The wallet had been inactive for 14.2 years and was initially worth only $34,000 in 2011. Its sudden activation shook the market.
The given address is stated to be a part of a bigger cluster with the totality of monetary resources held by an individual summing at 21.5 billion of BTC. According to Conor Grogan, Director at Coinbase, this transforms the owner into the history book of the leading five holders of Bitcoins. He has hit upon the idea that the address might be the one of an OG miner, which is a person who had mined Bitcoin in its infancy.
Most of the activated coins were transferred to new, non-exchange addresses, reducing fears of direct market selling. This pattern points to internal shuffling or strategic reallocation rather than liquidation. These so-called “mythical” early miner wallets are rarely active, and their sudden movements often signal major strategic decisions.
Large wallets linked to Binance and Coinbase Institutional were also observed moving funds during this period. Analysts interpret this as potential repositioning, which can either support bullish setups or reflect pre-sell conditions, depending on surrounding market behavior.
Long-Term Holders Start Realizing Profits
CryptoQuant on-chain data showed a notable increase in the Long-Term Holder Spent Output Profit Ratio (LTH-SOPR), which recorded 24.4. This is the highest it has been in more than one year and this has been attributed to massive profit-taking by early BTC investors.
Source: Cryptoquant
An LTH-SOPR value above 1 would reflect that the coins are sold at a profit against the purchase price. The recent breakout is a firm indication of the dispersion of long-established wallets. Such phenomena have a long history of coincidences with local price peaks or volatility cycles.
The SOPR is a popular indicator that is usually looked at by traders in volatile markets. Withdrawals or buildup areas have, in past cycles, been marked by sharp rises in this rate. The high reading is making experts wonder whether a change in trend is taking place particularly when the habit continues to be exhibited even among different wallets.
The veteran holders usually do not spend active bullish trends when they think there will be significant structural changes in the markets. That is why these sales take place almost at a specific point of time that is important to analysts and market observers.
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Is Bitcoin Undergoing Repositioning or Strategic Exit?
Bitcoin’s swift rebound from $107K to $108K shows short-term resilience. However, the combination of dormant wallet activity, reduced volume, and high SOPR readings creates a cautious environment. Traders are watching closely to determine whether this is part of a broader exit or just a temporary redistribution.
As of press time, Bitcoin is trading at $108,056.16, reflecting a 0.7% drop in the past 24 hours, according to CoinMarketCap. The price briefly touched $107,296 before recovering. Trading volume also fell 12.89%, reaching $41.44 billion, while the market cap stands at $2.14 trillion. The circulating supply remains fixed at 19.88 million BTC, signaling market stability despite whale-induced volatility.
Meanwhile, Binance founder CZ made a comment that he got into crypto only after looking at the whales who made casual moves. During the early days of June, a sell-off of long-term BTC holders was noticed. The continuous whale activities are vital events, market watchers and observers should observe for analyzing upcoming BTC moves.
