A Bitcoin whale has transferred 20,000 BTC worth approximately $2.19 billion for the first time since April 2011, marking the largest dormancy break in Bitcoin’s history. The coins, held untouched for 14 years, generated over 104 million Coin Days Destroyed (CDD) and triggered a sharp increase in the Long-Term Holder Spent Output Profit Ratio (SOPR), indicating a realized profit return of 2,459:1.
Analysts interpret such large-scale movements as potential precursors to market cycle shifts, noting that significant profit-taking by long-term holders often foreshadows transitional phases. However, metrics like the Net Unrealized Profit/Loss (NUPL) show no immediate signs of a market top formation at current levels.
Prominent analyst Rekt Capital projects Bitcoin’s bull market could peak by October based on historical post-halving timelines and recurring 550-day cycle patterns. Bitcoin trades near $108,839 as investors monitor on-chain data for directional signals.