Bitcoin Whale Moves $1.26B After Years of Inactivity

Key Takeaways:

• Three long-dormant Bitcoin wallets suddenly moved over $1 billion worth of BTC, suggesting possible market changes.
• A Satoshi-era whale transferred $9.5 billion in Bitcoin after 14 years, potentially preparing to sell.
• Whale activity, Fed policy rumors, and corporate Bitcoin investments continue to drive momentum in the crypto market.

On-chain analyst Lookonchain reported that three long-dormant wallets collectively moved 10,603 BTC ($1.26 billion), ending years of inactivity. According to Arkham Intelligence data, each wallet was initially funded on December 13, 2020, when Bitcoin traded around $18,000.

Bitcoin Whale Awakens After Years of Inactivity

Arkham’s records show all three original wallets previously interacted with a common address, strongly suggesting that the same entity might be controlling them. 

While two wallets remained completely inactive until this week, the third wallet initiated two minor transactions totaling 7 BTC roughly three years ago.

3 wallets (likely belonging to the same whale) just transferred 10,606 $BTC($1.26M) out after being dormant for 3-5 years.

All 3 wallets received $BTC on Dec 13, 2020, when the price of $BTC was $18,807.https://t.co/cSrBKmCTK8https://t.co/0770dlRgtlhttps://t.co/mKTH0Vl0od pic.twitter.com/YBGrixtstc

— Lookonchain (@lookonchain) July 23, 2025

However, on Tuesday, all three wallets transferred all their BTC holdings, each between 3,000 BTC and 4,000 BTC, to newly generated wallet addresses. 

This movement follows a similar reactivation earlier this month, when a separate Satoshi-era whale, dormant for 14 years, transferred over 80,000 BTC (approximately $9.5 billion) to Galaxy Digital. 

Lookonchain speculated that the transfer could signal preparation for large sales via Galaxy’s over-the-counter desk.

Together, these activations mark two of the largest dormant-wallet activations in recent months, fueling speculation about shifts in market liquidity or long-term strategy.

While neither the 10,603 BTC nor the 80,000 BTC transfers exhibit immediate signs of selling pressure, traders and analysts will closely monitor these newly active coins for clues on whether long-held holdings will enter the market.

Fed Rumors and Corporate Bets Stir Up Crypto Market

The crypto market regained momentum this week, with large whale transfers and rising volumes signaling a potential bullish run. 

The timing aligns with rumors about Fed Chair Jerome Powell’s potential resignation. Traders are now betting that looser monetary policy might benefit crypto assets.

It won’t be his resignation speech but his resignation speech is coming soon https://t.co/WKgRFIgMe2

— Pulte (@pulte) July 22, 2025

For instance, a Bitcoin Whale transferred 4,166 BTC, 2,605 BTC, and 947 BTC, all valued at approximately $920 million, from Kraken to an unknown wallet. This move coincided with an increase in trading volume, exceeding  $77 billion. At the same time, the brief spike pushed Bitcoin above $120,000 before a modest pullback, trading at $118,130 at press time.

In a growing market like the crypto sector, transfers of this magnitude rarely happen in a vacuum.

Market commentators believe that such rapid, large-scale transfers typically reflect strong demand and confidence in long-term holding.

Meanwhile, Michael Saylor’s Strategy announced plans to raise $500 million through a new preferred stock IPO (STRC) to fund additional Bitcoin purchases. 

The company is offering five million shares at $100 each, promising a 9% SOFR-linked dividend. 

Considering Strategy already sits on 600,000 BTC and continues to crush quarterly benchmarks, the IPO simply highlights how institutional players continue to double down.