A long-inactive Bitcoin wallet holding 5,000 BTC acquired in 2012 has resumed selling portions of its holdings, transferring 250 BTC to cryptocurrency exchange Binance. The transaction occurred as Bitcoin trades near $118,000, indicating renewed activity from one of Bitcoin’s earliest large-scale holders.
The whale wallet initially accumulated Bitcoin at an average cost basis of just $1.66 million for the entire 5,000 BTC stash. This marks the second recent divestment after a prior transfer of 1,000 BTC near the $106,000 price level two months ago, which generated over $106 million in proceeds. Following that transaction, the wallet remained inactive until the 250 BTC movement.
With Bitcoin’s price stabilizing between $116,000 and $120,000, on-chain patterns suggest the whale is employing incremental distribution tactics. The recent transfer of 250 BTC represents a market value of approximately $29.68 million, translating to a staggering profit margin exceeding 34,900% on the original acquisition cost.
Market analysts emphasize the significance of dormant wallets reactivating during price rallies, noting such events can influence liquidity dynamics and volatility. Large-scale distributions by longtime holders often serve as behavioral indicators for institutional traders monitoring sentiment shifts among high-conviction investors.