Dormant Bitcoin wallet moves $188 million after 7 years

A long-dormant Bitcoin wallet, inactive for over seven years, transferred 2,931 BTC worth approximately $188 million on Sunday, July 12, 2026. The movement, first flagged by blockchain analytics platforms, originated from a wallet last active in October 2018 when Bitcoin traded near $6,500, indicating the holder is sitting on a nearly tenfold gain.

The transfer from wallet "356my" to a new address, "bc1qn," does not confirm an immediate sale, as the funds have not been moved further. However, analysts note that large transfers from historically inactive wallets are often a precursor to selling activity, as holders look to realize significant profits. The transaction occurred as Bitcoin's price hovered around $63,000 to $64,000, having declined slightly over the previous day.

This movement coincides with a broader trend of whale-dominated activity. Data indicates that approximately 99% of Bitcoin deposited to exchanges currently comes from the ten largest individual transfers. A high "exchange whale ratio," which stood at 0.99, is historically viewed as a bearish signal because large deposits are more likely to precede substantial sell orders compared to routine retail activity.