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Following
BTC Seven years of silence, a large transfer of US$188 million has reappeared.
On July 13, a long-dormant Bitcoin wallet made the first online transfer in seven years, transferring 2,931 bitcoins (worth approximately US$188 million at the time) to a new address.
Blockchain intelligence platform Arkham reported that the long-inactive holder moved Bitcoin from the wallet address "356my" to the new address "bc1qn" on Sunday.
The last time this wallet was active, the Bitcoin transaction price was approximately US$6,500. At the current price of about $64,000, the book return on this position is nearly ten times.
Based on previous prices, the bitcoin was worth approximately US$19 million at the time of receipt.
These bitcoins were transferred to a brand new wallet instead of a known exchange address. Therefore, the transfer itself cannot be used as evidence of the seller's actions.
The receiving wallet has not yet transferred these bitcoins, and the specific reason for this transfer is unclear.
Market background and analyst concerns
This signal is important because dormant supply has a psychological impact, especially when old coins that have been dormant for many years start to flow and investors speculate whether more long-term holders will follow suit.
Long-dormant holders usually transfer bitcoin to upgrade wallet security, consolidate positions, or prepare for over-the-counter transactions that do not involve a public order book.
That being said, if the 2,931 awakened bitcoins start flowing to exchange recharge addresses, selling pressure will become the basic scenario.
This transfer is also in line with the overall trend in 2026. Since 2026, the frequency of awakening of dormant wallets has accelerated, with two old addresses transferring $69 million and $127 million respectively in May this year.
Analysts remain divided on whether this wave of operations is a wave of early investors cashing out and moving to custody solutions, or an internal consolidation by users holding huge unrealized gains.
From the perspective of exchange flow, the relevant background is worthy of attention. CryptoQuant's exchange-whale ratio has risen to 0.99, indicating that large-scale traders are still dominating exchange inflows.
According to CryptoQuant's analysis, historically high whale exchange ratios are usually related to market bearish sentiment, because large surcharges are more likely to represent selling behavior.
The broader ecosystem has digested multiple similar events without lasting effects. After this transfer, prices remained relatively stable, consistent with the pattern observed when large internal funds were reallocated rather than direct liquidations.
