On July 6, 2025, the blockchain and cryptocurrency field once again welcomed significant news. A Bitcoin whale address that had been dormant for 14 years suddenly activated, with over 80,000 Bitcoins (BTC) starting to circulate. This phenomenon has sparked widespread attention and discussion. This event is not merely a technical or market shift; it concerns not only the history of the Bitcoin network but may also have profound implications for the market. According to crypto analyst AI Yi (ai_9684xtpa), the owner of this whale address may not be 'Kaitu'—the legendary miner in Bitcoin history—but someone else.
Event review and address background
Throughout Bitcoin's history, there have been early holders who, due to long-term inactivity with their assets, created the phenomenon of 'dormant Bitcoins'. Over time, these Bitcoins have become a mysterious legacy on the network. The news of the 'Kaitu revival' originates from a whale address that began accumulating Bitcoins in 2011. This address has over 80,000 BTC that have not been transferred, and it was once believed to be 'Kaitu's' Bitcoin wallet.
However, as analyst AI Yi pointed out, the connection between this whale wallet and Kaitu is not clear. Kaitu is a well-known early miner in China who operated many mining machines on the Bitcoin network. Although the claim of 'Kaitu's revival' has sparked much discussion, analyst AI Yi noted that Kaitu's mining investments began in 2012, while this Bitcoin address started accumulating in 2011, making it unlikely to be Kaitu's wallet.
The deeper meaning behind the address: The revival of dormant Bitcoins
Once activated after 14 years of dormancy, Bitcoin often attracts widespread market attention due to the massive quantity of these dormant Bitcoins that have remained untouched for a long time. The revival of such Bitcoins may bring two potential impacts:
Fluctuations in market sentiment: Due to the long-term inactivity of these Bitcoin holders in the market, the sudden circulation of revived Bitcoins often triggers fluctuations in market sentiment. Investors may feel uneasy, believing that the release of these old Bitcoins might suppress the market. This emotional volatility could influence Bitcoin's price, especially in the short term.
Impact on Bitcoin's supply structure: The supply structure of Bitcoin is influenced by its total quantity limit, while the market's demand for its liquidity changes over time. The revival of dormant Bitcoins may exacerbate fluctuations in market supply, leading to increased attention on Bitcoin's scarcity. The 'revival' of these whale Bitcoins may not only make market participants feel a reversal of Bitcoin's scarcity but could also have profound effects on Bitcoin's price.
Potential impacts on the Bitcoin market:
Market sell-off pressure: The holders of these Bitcoins, especially large addresses holding 80,000 BTC, may create short-term sell-off pressure on the market once they begin to sell their holdings. Although these Bitcoins have remained untouched since 2011, their huge quantity can draw close market attention and potentially affect Bitcoin's price volatility.
Psychological changes among miners: Currently, Bitcoin's market is quite volatile, and the production costs for miners are gradually increasing. In this context, the sudden activation of Bitcoins that have been dormant for years may change miners' expectations of the market. If Bitcoin prices do not stabilize and rise, the income pressure for miners may increase, and some may choose to adjust their strategies or even exit the market. As the Bitcoin mining industry evolves, miners will pay more attention to the supply and demand relationship of Bitcoin.
Regulatory pressure in the cryptocurrency market: The revival of dormant whale Bitcoins may also attract the attention of regulatory authorities. Due to the long time span involved with these Bitcoins, regulators may focus more on the sources and purposes of such fund flows. If the revival of these Bitcoins is related to illegal activities such as money laundering, it could further lead to increased regulatory scrutiny on Bitcoin and cryptocurrencies.
Changes in market participants' expectations: For ordinary investors, the revival of dormant Bitcoins may also change their expectations about Bitcoin's future trends. If a large number of dormant Bitcoins begin to circulate in the market, it may impact the future supply and demand relationship of Bitcoin. Some investors may perceive Bitcoin as no longer being as 'scarce', thus altering their investment strategies.
Conclusion:
The activation of this Bitcoin whale address seems superficially related to Kaitu's revival, but from the analysts' perspective, it is not the act of Kaitu himself, but possibly an unknown Bitcoin holder's action. Regardless of who is behind it, the revival of Bitcoins dormant for 14 years could have far-reaching effects on the market.
In the coming weeks, the Bitcoin market may experience some volatility. The event's backdrop involves not only changes in market dynamics but also the intertwining of Bitcoin's long-standing history with its future prospects. As the cryptocurrency market matures, addressing historical issues and properly adjusting the market's supply and demand may become a new challenge for industry development.
For investors, this event serves as a reminder: the cryptocurrency market is full of uncertainties, and the movements of any 'whale' can change the market landscape. Here, we also advise investors to remain rational and pay attention to the upcoming market data and regulatory trends to make more precise investment decisions.
