Earlier this month, on Oct. 8, Galaxy Digital identified a wallet that transferred 100 $BTC originating from coins first mined in 2010. However, that transaction is absent from btcparser.com’s October tally of 774.17 $BTC because the 2010 coins had been commingled with other bitcoin, and the associated address had already recorded multiple transfers.
Carefully Timed Transfers Leave Bitcoin’s Next Move a Mystery
The oldest wallet in this specific batch dates back to July 11, 2012, and transferred exactly 25 $BTC on Oct. 2 after approximately 14.2 years of dormancy. The coordinated movement of 416.69 $BTC suggests the transfers may have stemmed from the same owner. Onchain heuristics lend some credence to that possibility, as the 167.84 $BTC transfer followed a transaction pattern strikingly similar to the first.
The slowdown in October may mean longtime bitcoin holders are waiting to see where prices go next, rather than feeling more confident. Moving these older coins could signal plans to sell or reorganize holdings, while the timing suggests the transfers were carefully planned. For now, however, there is no clear evidence that any of these coins have been put up for sale.
That could change, however, as onchain observers may lose track of the coins once logging the initial transfers following 13 years of dormancy fade from attention.
Hero/Feature image source: Mempool.space.
