Bitcoin Whale Awakens: Dormant Wallet Moves $1.4 Billion BTC, Triggers Market Jitters and Profit-Taking Debate
Bitcoin Whale Awakens: Dormant Wallet Moves $1.4 Billion BTC, Triggers Market Jitters and Profit-Taking Debate
A Bitcoin wallet, dormant for 13 years and linked to the Satoshi era, has unexpectedly transferred 12,000 BTC—valued at $1.4 billion—to an exchange. This significant on-chain movement immediately rattled traders, leading to a brief 2% dip in Bitcoin's price amidst fears of a large-scale sell-off. Market analysts suggest the activity reflects a measured profit-taking trend by long-term holders in a maturing market, rather than panic selling. Technical resistance for BTC is identified around $104,000-$105,000, with support at $100,000, as the market closely watches for further price action.
Dormant Bitcoin Whale Moves 12,000 BTC, Shaking Markets
A large, dormant Bitcoin wallet, inactive for 13 years, stirred on Thursday by moving a massive 12,000 BTC to an exchange. Valued at approximately $1.4 billion at current prices, this surprise transfer has rattled traders and reignited discussions about the intentions of large holders. On-chain data confirms this Satoshi-era wallet transferred funds in a series of transactions that landed on an exchange ledger.
Immediate Market Reaction and Underlying Sentiment
The transfers occurred as Bitcoin hovered near a key price band, leading to an immediate 2% drop in its value. Traders quickly reacted, guessing the funds might be put up for sale, which sparked warnings about forced closures of leveraged positions if larger sell orders materialized. Despite the initial anxiety, market observers noted that the mood was more nervous than panicked, emphasizing that large transfers often spark concern even without an immediate sale.
Technical Resistance and Support Levels for Bitcoin
Prominent analyst Ted commented that Bitcoin is currently facing stiff resistance in the $104,000–$105,000 range. According to his view, a sustained hold above $105,000 could encourage renewed buying, potentially pushing prices towards $107,000. Conversely, a failure to maintain this level could see the next clear support tested near $100,000. Traders are closely monitoring order books and exchange flows to determine if the transferred coins are converted to fiat or simply shifted between wallets.
Profit-Taking by Long-Term Holders Dominates Selling Pressure
Based on reports from Chris Kuiper, CFA, the broader selling pressure observed appears to be driven more by long-term holders than by panicked sellers. Kuiper highlighted the share of Bitcoin that has remained inactive for one year or longer, noting that its gradual decline suggests steady profit-taking over time rather than a sudden exodus. This pattern, say market observers, aligns with a maturing market where older holders strategically lock in gains without attempting to time a perfect market top. This trend, while not ruling out short-term volatility, changes how traders interpret significant transfers.
The market's immediate future will likely be shaped by a combination of on-chain flows and Bitcoin's price behavior around the $104,000–$105,000 area. Short-term traders will react to exchange data, while long-term investors may adjust their plans more slowly based on metrics like inactive supply. The transfer of 12,000 BTC is a major piece of information, and how traders act on it will ultimately determine its long-term market impact.