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A Bitcoin whale who has been "dormant" for exactly 14 years suddenly awakened - not just stretching, but directly withdrawing 80,000 Bitcoins, equivalent to a net worth of $9.46 billion, and started wildly dumping coins!
As soon as the news broke, the market exploded, with Bitcoin dropping from a high of $123,000 to around $116,000, causing blood pressure to spike within just a few hours.
"Ancient Whale" Awakens: Coins Mined 14 Years Ago Now Worth $9 Billion!
According to on-chain data, this early investor (estimated to have been mining since 2010), started moving on July 4th and recently transferred about 20,000 BTC ($2 billion) to Galaxy Digital - not an ordinary wallet, but a major institution providing OTC trading services!
Even more shocking is that 2,000 BTC have been directly transferred to exchanges, including Bybit and Binance.
This action immediately ignited market sentiment:
- Is a dump about to begin?
- Will it be similar to the last LFG "systemic panic"?
- Or is it just changing wallets, continuing long-term holding?
No one knows the answer, but one thing is certain: the whale's moves are enough to shake the market's nerves.
Who is he? Not Satoshi Nakamoto, but not an ordinary person either
Although these coins are not from Satoshi Nakamoto's genesis address, they still sparked various speculations:
- Individual miner? Back then, with low computing power, mining a few thousand coins was normal.
- Old address from Mentougou? At that time, Mt.Gox was the only global exchange, and the transfer trajectory seems to match.
- Anonymous institution? The average price of $0.78 looks exactly like an early fund's method of building positions.
Whoever it is, this guy's current profit multiple is: over 140,000 times!
Yesterday, BTC's highest price was $123,226, which means these coins have risen by over 160,000 times.
This is a true "friend of time", genuinely lying down and winning for 14 years, waking up and cashing out $3.5 billion... something ordinary people wouldn't even dream of.
Bitcoin under short-term pressure, dropping below $116,000
Affected by the whale's transfer, Bitcoin quickly retraced from its high, dropping to a low of $116,250, currently oscillating around $117,000.
You think "sell and it's over"? Not quite. The whale still has over 60,000 coins left untraded, and if they continue dumping, it would be like dropping a nuclear bomb!
Good news is: Currently, these coins are mainly moving through OTC channels, which doesn't critically impact the spot market.
Bad news is: Coins are already being transferred to exchanges, which is a "charging" signal that shouldn't be taken lightly!
What should we do? Opportunity? Or run?
Facing such a whale movement, ordinary retail investors shouldn't expect to perfectly buy the dips. Not chasing rises and falls is the right approach.
Some institutional strategy suggestions:
- BTC's short-term support is in the $113,000-$116,000 range; if stable, watch for a rebound;
- If it breaks $113,000, panic selling may continue;
- Resistance is around $120,000; if no new negative news emerges, recovery is possible.
But remember: Each whale movement can bring uncertainty. Want to buy the dips? Wait for confirmation signals. Otherwise, you might easily buy halfway up and get cut at the bottom.
Summary
Don't forget, crypto's gains have never been about technical analysis or "celebrity" tweets, but about "holding on" and "being patient". This OG whale could cash out $3.5 billion in a day not because he's good at trading, but because he didn't touch his account for 14 years.
And we "elite leeks" who stare at the market daily and exhaust ourselves internally, barely make any points.
So sometimes, crypto's biggest opponent isn't the market maker, but yourself:
The ability to resist moving is the true mark of strength.
Tonight's CPI will be published, and the "second market storm" is about to hit. Remember to follow the market and stay clear-headed.
That's it for the article! If you're lost in the crypto world, consider joining me in layout and harvesting from market makers! You can join the community without threshold via WeChat+QQ group to get market analysis, altcoin operations... WeChat: c13298103401 or QQ: 3806326575
