An early Bitcoin miner known as the “ancient whale” sold all 80,000 BTC it had held since 2011. The whale moved the first 40,192 BTC, worth about $4.83 billion, into Galaxy Digital.
Over three days, the holder liquidated a total of 80,202 BTC, fetching $9.53 billion at an average of $118,834 per coin. The original cost basis for these coins was just $54,000.
Massive Transfers Rekindle Interest
Blockchain trackers first spotted the whale reactivating an address dormant for more than 14 years. A few weeks ago, it sent 40,000 BTC, roughly $4.7 billion, to an exchange.
Then, in four separate moves of 10,000 BTC each, the whale shifted more coins minted in Bitcoin’s earliest days. Despite these outflows, about 120,326 BTC remain untouched in that same address.
Bitcoin’s Price Actions
At the time of these transfers, Bitcoin traded at $118,789.01, up 0.1% in the last 24 hours. The total cryptocurrency market cap stood at $2.36 trillion, while daily trading volume rose by 8.83%.
Traders noted that these figures reflect a wider appetite for risk assets and growing retail participation. Even so, the actions of a veteran holder grabbed the most attention.
The sale of coins, which was held by the whale for more than a decade, suggests the difference between long‑term conviction and profit‑taking. When an address tied to Bitcoin’s formative era moves such a large stake, it sends a clear signal to the market.
Some investors will see this as a chance to buy at current levels, betting the whale’s exit is an isolated event. Others view it as a warning that prices may face downward pressure if similar holders follow suit.
Implications for Investors
Analysts say seasoned whales often act before big price swings. By cashing out now, the ancient miner may be anticipating volatility ahead. Retail traders should watch for changes in on‑chain metrics, such as the volume of coins leaving long‑term wallets.
If more legacy holders break their hold patterns, Bitcoin’s price could test new support levels. At the same time, institutional vehicles that monitor whale moves may adjust risk models and margin requirements.
Looking Ahead
Traders will now track much broader indicators like regulatory updates and market trends to gauge whether this whale’s move marks a one‑off profit realisation or the start of a wider rebalancing.
In either case, the departure of such significant transfers and numbers underscores the evolving dynamics between early adopters and today’s fast‑growing crypto ecosystem.
Also Read: Bitcoin Whale Awakens After 14 Years & Moves 20,000 BTC Worth $2.18B Acquired at $0.78 Each