A long-dormant Bitcoin whale from the Satoshi era, holding 80,009 Bitcoin since 2011, has moved over $1.18 billion worth of Bitcoin to major exchanges like Binance, Bybit, Bitstamp, Coinbase, and OKX. This has raised fears of a market correction during a low-liquidity weekend.
According to blockchain analytics firm Lookonchain, the whale, whose stash is valued at $9.68 billion, previously transferred 40,000 BTC ($4.6 billion) on July 15 and another 40,000 BTC on July 18 to Galaxy Digital.
The massive transfers, coupled with new auditing rules under the GENIUS Act for stablecoins, have fueled concerns about Bitcoin’s stability. CEO of WhaleWire, Jacob King, warned on X that Bitcoin is a “bubble propped up by fake money,” predicting a collapse.
However, Bitfinex analysts countered that historical whale movements do not always trigger corrections, suggesting this activity may reflect preparation for an institutional market cycle rather than a bearish shift. An analyst named EmberCN said about 12,000 Bitcoin, worth $1.38 billion, are still left to be sold by a big Bitcoin holder.
These sales are likely happening privately or on regular markets, and the market should handle them without much trouble. Another expert, Ki Young Ju from CryptoQuant, said these sales show the old pattern of Bitcoin price cycles is over. Instead of selling it to small investors, whales are now selling to new big investors who plan to hold long-term.
This highlights that more big companies and institutions are getting involved in Bitcoin. He also noted that holders now outnumber traders, diminishing trading’s relevance. Analysts also pointed to U.S. Bitcoin exchange-traded funds (ETFs) and big investments from companies like Strategy, Tether, and Metaplanet as changing the usual four-year pattern of Bitcoin’s price ups and downs.
These big players could push Bitcoin’s price to new record highs. Even though there is some concern about a price drop, the market can handle large sales, and growing interest from big investors indicates that the crypto world is getting stronger and ready for more growth.
Also Read: Bitcoin Price Falls as Satoshi-Era 80K BTC Whale Dumps Holdings
