Over the last 24 hours, there have been three distinct developments involving Bitcoin [$BTC].
First, Glassnode data showed that active Bitcoin addresses rose to 0.98 million daily. The spike may reflect security concerns rather than renewed investor demand.
Many Coldcard users may have moved funds into newly created wallets after the firmware exploit became public.
Moving Bitcoin [$BTC] requires on-chain transactions. That pushed active addresses to their highest level since December 2024.
Bitcoin OG whale wakes up
This coincided with the transfer of 49.97 $BTC, or approximately $3.23 million, by an early Bitcoin holder who had kept the coins unopened for almost 15 years.
The OG whale received their first Bitcoin on the 16th of July, 2011, when it was trading at an average price of roughly $10. Over the course of the holding period, the holdings have now increased in value by more than 634,000%.
That said, the wallet was active in block 961,331 on the 6th of August 2026 and has not been linked to any known person or organization.
Dormant-wallet activity often draws attention because it can precede selling. Still, this transfer did not confirm a sale.
Is another early holder preparing to sell?
Another early Bitcoin investor moved 50 $BTC, worth about $3.22 million, after ten months of inactivity. The investor bought Bitcoin when it traded between $10 and $15. The funds moved to a new wallet.
The cluster had previously sent funds to new addresses before transferring them to exchanges or FalconX.
That pattern may signal preparation for an over-the-counter (OTC) sale. However, the latest transfer did not confirm one.
How will this impact $BTC?
All this happens at a time when the price of Bitcoin was trading at $64,672.05 at press time. Even though the RSI showed a bullish momentum above the neutral zone, there were no clear indications of either bullish or bearish momentum based on the MACD indicator and the signal line lying on the zero line.
Needless to say, since October, the asset’s market capitalization has declined by $665 billion, causing its valuation to drop to $1.29 trillion, a 25.98% decline this year.
Hence, Joao Wedson, market analyst and founder of Alphractal, put it best when he said,
Based on Bitcoin’s historical cycle patterns, there could still be at least 2 months to go from today.
Final Summary
- Bitcoin active addresses are surging, and Bitcoin OG whales are moving $BTC from one wallet to another.
- Despite so much happening on the on-chain front, the price of Bitcoin was trading around $64k.
