On-chain data shows that the ancient Bitcoin whale wallet, which had been dormant for 14 years, has again moved after transferring 80,000 Bitcoins previously. This morning (17th), it transferred 40,192 Bitcoins (worth $4.75 billion) to a new address. The market speculates that this 'ancient whale' may continue to release its holdings.
Looking back at July 4th, U.S. Independence Day, this mysterious address awakened for the first time since 2011, gradually transferring 80,000 Bitcoins (worth $9.5 billion) in transactions of 10,000 Bitcoins each to 8 new addresses, of which 40,010 Bitcoins were transferred to Galaxy Digital's wallet address earlier this week.
It is reported that some Bitcoins have flowed to the cryptocurrency exchange OKX, as well as other unmarked wallets, while the remaining Bitcoins remain idle in Galaxy Digital's wallet.
Lookonchain pointed out at the time that considering Bitcoin recently broke through $122,000, setting a new historical high, this whale is likely selling its holdings through Galaxy Digital's over-the-counter (OTC) channels.
On-chain data indicates that the remaining 40,192 Bitcoins are likely still held by the mysterious whale after the initial transfer. They were originally dispersed to four addresses starting with 'bc1qn', 'bc1qy', 'bc1qm', and '1GcCK', but this morning they were merged and transferred to a new wallet address (starting with 'bc1qs').
As of now, the new wallet has not taken any further action. However, Lookonchain warns that if this batch of Bitcoins flows to Galaxy Digital or other institutional wallets in the future, it may indicate that this whale 'will continue to sell off'.
The Bitcoin OG with 80,009 $BTC($9.46B) just transferred another 40,192 $BTC($4.77B) to a new wallet bc1qs4 and may continue to sell. https://t.co/EUM3WzP46n https://t.co/UjX7fBpbv7 pic.twitter.com/EEdS5eEZod
— Lookonchain (@lookonchain) July 17, 2025
"The 'ancient whale' strikes again! Transferred 40,000 Bitcoins, market closely watching the follow-up dynamics" This article was first published on (Blockke).
