Satoshi-era whale moves 20,000 BTC ($2.18B) after 14.4 years, sparking selloff fears as Bitcoin hovers near $109K.
Satoshi Era Bitcoin whales have executed a substantial transaction in the past few hours, transferring 20,000 BTC valued at an astounding $2.12 billion, as evidenced by on-chain data. This whale movement has awoken from a 14-year slumber, prompting concerns regarding whether this is a routine wallet transfer or the precursor to a significant BTC selloff. Currently, the price of Bitcoin is hovering around $109,000, as investors anticipate the next directional shift.
After 14 years of dormancy, Bitcoin whales from the Satoshi era awaken
A Satoshi-era Bitcoin wallet that had been dormant for 14.4 years has awoken, transmitting 20,000 Bitcoins. The Bitcoin behemoth address NY8gD…. deposited 10,000 BTC worth $1.09 billion to a new address TSmxj…, according to the data from BitinfoCharts. The whale transferred 10,000 BTC to an address named ECyqH within an hour of this transaction. Investors are uncertain about the next directional move, which could be to $90K or $140K, as the Bitcoin price hovers around $109,000.
The Satoshi wallet NY8gD…. received the BTC on April 3, 2011, when Bitcoin was priced at $0.78, according to the BitInfoCharts data. This initial purchase was worth a mere $7,805. Consequently, the Bitcoin whale currently rests on a staggering 140,000x profit on the original investment. Such behemoth activity frequently sparks speculation in the crypto market regarding potential strategic repositioning or selling pressure.
Continued ETF Inflows, Bitcoin Long-Term Holders Demonstrate Strength
Glassnode, a blockchain analytics platform, reported that long-term BTC holders possess a record of 14.7 million BTC, despite the Satoshi-era Bitcoin whales that sparked market excitement. Additionally, it stated that these holders are less inclined to sell, as they acquired the majority of the Bitcoins at the $100K breach. This implies that the adverse risk is diminished and the upside potential increases from this point forward. Additionally, the likelihood of these whales selling off is further reduced by the approval of Trump’s “Big Beautiful Bill.”
Conversely, spot bitcoin ETF inflows have persisted at a heightened pace, with an additional $601 million inflows on Thursday, July 3. Yesterday’s inflows were primarily driven by Fidelity’s FBTC, which generated $237 million, and BlackRock’s IBIT, which generated $222 million. BlackRock’s IBIT has been shattering records, with nearly 700,000 BTC holdings. It is also among the top three revenue-generating ETFs out of 1,197 BlackRock ETFs.
