Dormant Bitcoin whale moves 2,373 BTC after 7-year silence

A Bitcoin address dormant for seven years moved 2,373 BTC on June 16, worth about $156 million, as the token reclaimed the $66,000 level.

The movement was flagged by CryptoQuant analyst Maartun, who said the coins had remained untouched for between five and seven years, based on data from the firm's Spent Output Age Bands metric.

The transfer ranked among the largest activations of dormant Bitcoin supply in recent weeks. Tokens aged five to seven years accounted for most of the atypical on-chain transactions detected on Monday, according to CryptoQuant data shared on X.

A whale transfer does not confirm a sale. Long-term holders may move coins for custody changes, wallet upgrades, estate planning, or profit-taking. Analysts typically watch whether such coins flow to exchanges before treating the movement as possible sell pressure.

The awakening comes as Bitcoin trades near $66,000, up more than 6% over the past week, according to CoinGecko data. The rally followed a period of consolidation below $65,000, with institutional participation through spot Bitcoin ETFs providing a floor for prices.

Separately, data from market analyst Ali Martinez showed that wallets holding between 10 and 10,000 BTC accumulated more than 30,000 Bitcoin over the past seven days, increasing their combined holdings to approximately 4.27 million BTC from 4.24 million BTC. The buying represents roughly $2 billion in whale accumulation at current prices.

The next milestone for assessing the impact of dormant wallet activity on market liquidity will be the June monthly options expiry, an event that will test whether current support levels hold.

This article is for informational purposes only and does not constitute investment advice.