Two Bitcoin wallets that stayed silent for 12 and 13 years suddenly moved 416 BTC worth about $33.8 million into a single address on October 17. The coins cost only about $105,000 in total when they were first bought, so traders are now watching one question: is an old whale finally getting ready to sell?
Key points:
- Two dormant wallets moved 416.6941 BTC, worth about $33.82 million, into one address on October 17.
- One wallet had been inactive for 13 years with 167.84 BTC; the other slept for 12 years with 248.85 BTC.
- The owners and the reason for the move are unknown, and there is no confirmed deposit to an exchange yet.
Onchain tracker Onchain Lens flagged the two transfers. The 13-year wallet sent 167.8402 BTC, worth about $13.62 million, and the 12-year wallet sent 248.8539 BTC, worth about $20.20 million. Together the coins were originally worth only about $105,380, which means the holder is sitting on a gain of roughly $33.71 million — more than 320 times the starting value. Both transfers landed in the same receiving address.
Read also: Bitcoin's New Buyers Stack 570,000 BTC — Is $75,000 the Floor?
Why it matters for traders
Early Bitcoin wallets are watched very closely because their owners bought when almost nobody believed in the coin. When coins that have not moved for more than a decade suddenly wake up, some traders fear the holder may be preparing to sell after years of waiting. The timing also matters: Bitcoin is trading near $81,500 in a fragile market, after a week in which most big coins fell, so even a $33.8 million move gets extra attention.
There is still no proof of selling, however. The coins moved into another wallet address, and no report confirms a deposit to an exchange, which is the step that usually comes before a sale on the open market. Old holders also move coins for simple reasons, such as joining several wallets into one, improving security, or preparing a private over-the-counter deal that never hits public order books.
What happens next?
The next move of the receiving address is what traders will watch. If the 416 BTC starts flowing toward a known exchange wallet, selling fears will grow and short-term traders may turn defensive. If the coins simply sit still again, this will look like housekeeping by one of Bitcoin's most patient holders — a wallet that waited 13 years and turned about $105,000 into $33.8 million.
Read also: BREAKING: Bitcoin Whale That Survived the 2020 Crash Just Moved $378 Million After Six Quiet Years
— Crypto News Daily News Desk
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: PANews, Blockchain.News, EconoTimes
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