- A dormant Bitcoin whale transferred 2,931 BTC worth about $188 million after seven years.
- The wallet last moved funds in 2018 when Bitcoin traded near $6,475.
- Analysts monitor whale activity as large transfers may impact market sentiment.
A Bitcoin whale has transferred 2,931 BTC worth approximately $188 million after remaining inactive for more than seven years. The move has drawn attention from market observers as the wallet’s holdings gained nearly tenfold since its last transaction in 2018.
Dormant Bitcoin Wallet Moves 2,931 BTC to New Address
According to onchain data from Onchain Lens and Arkham Intelligence, the whale wallet moved 2,931 BTC to a new unmarked address on Sunday. The transfer occurred at around 3:41 p.m. ET, ending a dormancy period of about seven years and nine months.
The original wallet, identified as “356my…BAsmK,” had remained inactive since October 23, 2018. At that time, Bitcoin traded near $6,475, meaning the holder’s position increased significantly as BTC prices advanced through multiple market cycles.
The receiving wallet, identified as “bc1qn…8gp25,” has not moved the transferred Bitcoin following the transaction.
However, the reason behind the movement remains unknown, as blockchain data does not reveal whether the wallet belongs to an individual, company, or institutional holder.
A Bitcoin whale just woke up after 7 years.
2,931 $BTC (~$188M) was moved after sitting untouched since BTC traded at ~$6.5K.
Today, with BTC above ~$64K, the same stack is worth nearly 10x more.
Data credit: @arkham pic.twitter.com/y0JXIM91yK
— Onchain Lens (@OnchainLens) July 12, 2026
Meanwhile, Bitcoin was trading above $64,000 around the time of the transfer, highlighting the substantial increase in value of coins held through several market phases.
The whale maintained the position during Bitcoin’s 2021 rally, the 2022 market downturn, and the recovery period that followed.
Large wallet movements often attract attention because they can indicate potential changes in investor behavior.
However, transferring Bitcoin to a new address does not confirm that the holder intends to sell the assets.
Whale Activity Increases During Major Bitcoin Market Cycles
Historically, dormant Bitcoin wallets have occasionally become active during periods of strong price performance. Therefore, traders often monitor these transactions for possible signals of increased market activity.
During Bitcoin’s previous all-time highs, several long-term holders moved significant amounts of BTC after years of inactivity.
For instance, one wallet transferred more than $8.7 billion worth of Bitcoin in 2025 after remaining untouched for 14 years.
The latest transaction represents a smaller movement but reflects a similar trend of older Bitcoin holdings becoming active after extended periods. These transfers can influence market sentiment, although their direct impact on Bitcoin prices depends on whether the coins eventually enter exchanges.
Data from CoinMarketCap shows Bitcoin is currently trading at around $62,862 at the time of reporting, down approximately 1.7% over the past 24 hours, as market participants assess short-term price movements.
As of the latest data, no additional transactions have been recorded from the receiving address.
Consequently, analysts continue monitoring the wallet for further activity that could provide more insight into the holder’s intentions.
Bitcoin’s limited supply means large dormant wallet movements remain closely watched by investors. However, onchain activity alone cannot determine whether a whale is preparing to sell or simply reorganizing holdings.
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