Daniel Walker
A significant Bitcoin transfer highlights continued whale activity and sparks discussions about profit-taking from decade-old holdings.
On Tuesday, a Bitcoin whale shifted 750 BTC, valued at roughly $83 million, to Binance within an hour. Analysts note that these coins were originally acquired 12 years ago, back when Bitcoin traded around $332 in 2013.
The wallet, identified by blockchain intelligence, still retains 750 BTC even after the transfer. Previously, it received funds from a related address holding approximately 2,500 BTC, currently valued near $276.5 million. Both addresses use the Bech32 “bc1q” format introduced with the SegWit upgrade, enhancing error detection and enabling more advanced functionalities compared with older address types.
Implications for Market Movements
This transfer is part of a broader trend where long-held wallets have become active this summer. Many decade-old addresses are moving thousands of BTC, while some miner wallets dating back over 15 years are shifting coins to exchanges or new custody setups. Such movements don’t necessarily mean immediate selling, as whales may split holdings, consolidate into new wallets, or test liquidity through partial deposits. Nonetheless, large transfers to exchanges typically attract trader attention, especially amid market volatility or risk-off conditions.
Shift Toward Ethereum
In addition to Bitcoin activity, some veteran holders have rotated a portion of their holdings into Ethereum. This trend reflects growing institutional interest in ETH and steady inflows into spot ETFs, signaling broader adoption of cryptocurrencies beyond Bitcoin.
