Bitcoin Whale Awakens After Decade to Move $37.8 Million in BTC

A Bitcoin whale, dormant for over a decade, moved its entire stash on June 8.

• Data from on-chain analytics platform Lookonchain shows 1,432.93 BTC, valued at approximately $37.8 million, were transferred to a new address starting with “bc1psv.”
• The whale originally received 1,432.92 BTC on April 9, 2013, when Bitcoin traded near $195.4.
• This movement of long-dormant holdings follows a series of similar transfers in recent months.
• It remains unclear whether these whales have changed their stance during the bear market or if the movements reflect selling activity or simply personal custodial adjustments.
• In April, a wallet dormant for over nine years moved 2,071.5 BTC (worth over $60 million). This address had received a total of 6,071.5 BTC at the end of 2013, when Bitcoin hovered near $663.
• During the same period, another long-term holder with a 12-year dormant stash transferred 400 BTC (approximately $11 million) across multiple addresses.
• A recent Glassnode analysis revealed that large BTC whales continued to aggressively accumulate the flagship cryptocurrency despite its price being range-bound.

An interesting dichotomy across the Bitcoin Accumulation Trend Score persists, as the largest of Whales (>10K BTC) continue to aggressively accumulate, whilst all other major cohorts experience heavy distribution.

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