Dormant whale wallets have been waking up. Early July saw eight “Satoshi-era” addresses move $8.6B), and two more wallets shifted 20,000 BTC ($2B). Crucially, these coins went to new private (SegWit) addresses – none were sent to exchanges – implying consolidation, not profit-taking. On-chain data also show that very large holders have been net accumulators as price climbed. Corporate treasuries mirror this: for example, Japan’s Metaplanet bought 2,205 BTC this week (bringing its reserves to 15,555 BTC). Together, big BTC holders appear firmly HODLing rather than selling.$BTC #BTC