12-Year Bitcoin Whale Sells 3,000 BTC, Realises $265M; 2,500 BTC Still Held
A Satoshi-era Bitcoin wallet tagged “5K BTC OG” has resumed activity after 12 years and begun structured sell-offs. Originally funded with 5,000 BTC in 2012 (~$1.66M then), the wallet has sold 2,500 BTC since December 4, 2024, across multiple transfers to Binance, realising roughly $265 million at an average exit price near $106,164. Most recently the whale moved another 500 BTC (~$47.8M) to Binance. The holder still retains 2,500 BTC (approx. $237.5M at current prices). The disposals appear deliberate — transactions of 250–500 BTC each, spread over months — likely to blend into exchange liquidity and reduce slippage. Traders should note that a potential sale of the remaining 2,500 BTC could exert notable downward pressure on BTC near the $100,000 resistance zone. Key facts: wallet origin (2012), total original balance (5,000 BTC), sold to date (2,500 BTC), proceeds (~$265M), latest transfer (500 BTC), remaining balance (2,500 BTC, ~$237.5M), average exit price (~$106k).
Bearish
The news is bearish because a Satoshi-era whale has already liquidated half of a 5,000 BTC stash and still holds 2,500 BTC that could be sold. Large, concentrated sell orders historically increase downward pressure and volatility — especially when moved to major exchanges like Binance where they can be executed. The seller’s behaviour (250–500 BTC tranches over months) reduces slippage but signals continued intent to monetise gains. If the remaining 2,500 BTC were to be placed into the market quickly or coincide with a price rejection near $100k, liquidity could be strained and trigger a sharper pullback. In the short term expect increased sell-side pressure, wider spreads, and potential price dips during large outgoing transfers. In the medium-to-long term the impact depends on whether the holder continues gradual selling (which markets can absorb) or accelerates exits; continued distribution from legacy wallets can cap upside and increase volatility. Historical parallels: past long-dormant Satoshi-era wallet sell-offs (e.g., multi-year reactivations) have often coincided with temporary drawdowns and elevated on-chain exchange inflows, producing bearish price reactions until selling completes or liquidity absorbs the supply.