Bitcoin fell from above $119,000 to around $117,600 on Monday night after a wallet tied to a long-dormant whale transferred around 9,000 Bitcoin worth over $1 billion to Galaxy Digital.
The transactions were first flagged by blockchain analytics platform Spot On Chain. Despite the outflow, the wallet still holds approximately 11,000 BTC, valued at $1.3 billion at the time of writing.
🚨The whale just moved 8.5K $BTC (~$1B) to Galaxy Digital 15 minutes ago. It is likely an OTC deal.
This is his first cash-out in 14.3 years.
Wallet Link: https://t.co/7ZhXS8WXu8 https://t.co/UyEH6eMJxq pic.twitter.com/Mf3jfeQdUj
— Spot On Chain (@spotonchain) July 15, 2025
Earlier in the day, the Satoshi-era whale moved $2.4 billion in Bitcoin to a new address, fueling renewed speculation around their activity.
As reported by Crypto Briefing, the whale resurfaced on July 4 after 14 years of dormancy, initiating the transfer of 80,000 BTC across multiple transactions. The holdings were originally acquired at around $2 per coin.
Coinbase’s head of product, Conor Grogan, previously noted there was a slim chance that the recently reactivated $8 billion in Bitcoin may be linked to hacked or compromised private keys.
There is a small possibility that the $8B in BTC that recently woke up were hacked or compromised private keys
I found a single BCH test transaction from one of the BTC whale clusters 14 hours ago, followed by the full amount. An hour later, the BTC wallets began to move (1/3) pic.twitter.com/VzRnaUyIG7
— Conor (@jconorgrogan) July 4, 2025
