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- Dormant Bitcoin whale resurfaces, offloading millions as market pressure intensifies
- Early investors cash out massive profits as Bitcoin exchange inflows surge
- Whale-driven Bitcoin deposits dominate exchanges, signaling ongoing distribution phase
A fresh wave of selling from early Bitcoin holders has drawn attention across the market, as long-dormant wallets begin distributing significant holdings. This new activity has been accompanied by a rise in inflows of exchange and a marked change in market structure.
On Wednesday, a 5,000 BTC Bitcoin whale, who had acquired the coins over ten years, began to sell them, selling 1,000 BTC that was estimated to be worth $71.6 million. On-chain records of EmberCN indicate that this wallet has been moving a total of 3,500 BTC, worth approximately $332 million, to Binance since November 2024. These movements emphasize a gradual and premeditated distribution approach as opposed to a single liquidation.
According to the records, the investor initially bought Bitcoin in 2013 with an average price of $332. The sales made in the recent past were at an average price of 494,786, which made an estimated profit of approximately 330 million. Though the sell-offs were large, the wallet still contains approximately 1,500 BTC, worth more than $100 million, meaning that the phase of distribution could not yet be finished.
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Early Investors Accelerate Profit-Taking After Years of Dormancy
There is also independent data from Lookonchain, which indicates the existence of an activity with another of the first entrants. As per the analytics platform, the initial investor in Bitcoin, Owen Gunden, sold 650 BTC, which is valued at about 46.3 million dollars. This most recent sale contributes to the earlier sales that amount to approximately 11,000 BTC that are worth more than 1 billion dollars. Although analysts associated the wallet with Gunden, there is no confirmation of that effect.
Besides, this trend is indicative of a larger movement among early-movers who are presently cashing in on long-established positions. Most of these investors acquired Bitcoin at a much lower price, meaning that they could make high profits at the current rate. Consequently, the market still receives high quantities of supply, which is a result of early wallets.
Rising Whale Activity Signals Market Distribution Phase
In the meantime, on-chain data indicate that such transactions are on a greater trend. Bitcoin which had previously been lying dormant is now returning to circulation with whales dominating the inflows in the exchange. According to data provided by CryptoQuant, the ratio of Bitcoin exchange whales had increased to 0.83 on March 14. This implies that the ten largest deposits represented 83 percent of aggregate deposits to exchanges. Large holders continue to dominate the exchange activity despite the fact that the ratio has dropped to 0.66. In turn, such a trend indicates long-term selling pressure of high-value wallets.
In addition to this, the time of these moves coincides with recent price edema. Bitcoin fell by 4.5% in the last 24 hours, and it traded at approximately $70,813. The asset has also declined by over 43 percent of its all-time value of around $124,700 in October 2025.
Notably, the scale and regularity of such transfers indicate that this is a planned exit and not a hasty selling. Big holders are reaping the benefits of the past and are redistributing supply back into the market. Meanwhile, persistent inflows to exchanges tend to amplify short-term volatility, particularly in cases where demand is uncertain.
The reappearance of dormant whale activity is indicative of an overall redistribution stage of the Bitcoin market. Although profits of early adopters are already becoming a reality, long-term selling by large holders can influence near-term price movements and liquidity levels.
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