$44M Whale Wallet Awakens After 12 Years, BTC Price to Move this Way

Key Insights

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  The latest Bitcoin news highlights a whale wallet, untouched for 12 years, that showed a transfer of $44 million worth of Bitcoin.
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  Researchers claim that on-chain indicators still point to an ongoing bull market and that the bull cycle is far from over.
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  XWIN Research Japan observed that profit‑taking among long‑term holders has slowed.

A long‑dormant bitcoin wallet has suddenly come back to life after moving $44 million worth of bitcoin, marking its first activity in 12 years, as per on‑chain data by Lookonchain.

Meanwhile, a research firm published a report on CryptoQuant stating that the bull market was far from over, with most on‑chain indicators pointing to renewed strength.

Bitcoin Whale Activity Details

According to Arkham Intelligence, the bitcoin wallet identified as “1ArUG…zwaWT” executed a major transfer of roughly 400 BTC to several different wallets, with the transactions sent in several batches of 15 BTC each.

Lookonchain noted that the receiving wallet in this case was originally funded by miners about 15 years ago. Both the identity of the person behind the transfer and the purpose of the transaction remain unknown.

During the 12 years that the wallet sat untouched, bitcoin’s price exploded. It climbed from roughly $135 to more than $111,800 today, an increase of about 830 times.

In recent months, activity from Satoshi‑era wallets has picked up noticeably. As bitcoin reached fresh highs this summer, several long‑dormant holders appeared to take the opportunity to cash out some of their gains.

One of the largest Bitcoin transactions this year was Galaxy Digital, which sold approximately 80,000 BTC in July for over $9 billion. This amount belonged to an individual investor from the Satoshi‑era.

Earlier this month, another early bitcoin holder shifted strategy in a major way. The investor moved billions out of BTC and into ETH, ending up with nearly $4 billion worth of ether from an original stake of more than $5 billion in bitcoin.

Around the same time, a separate wallet containing about 444 BTC, valued at roughly $50 million, came back online on September 11 after sitting untouched for nearly 13 years.

Analyst Claims Bitcoin Bull Market Is Not Yet Over

Crypto investment firm XWIN Research Japan shared on CryptoQuant that recent price swings had rattled traders, but on‑chain indicators still point to an ongoing bull market.

The firm added that patterns in long‑term holder behavior, along with Bitcoin’s Market Value to Realized Value (MVRV) ratio, reveal what it called a strong layer of resilience beneath the surface.

XWIN Research Japan noted that Bitcoin’s recent declines look less like the end of a rally and more like a natural pause.

The firm pointed out that the MVRV ratio has adjusted lower to 2, with the average cost basis now about half of bitcoin’s current price. According to XWIN, this level has typically signaled a market that is neither panicked nor euphoric.

The report and recent Bitcoin news added that investors still hold substantial gains, even as the market cools from overheated conditions. In past cycles, XWIN explained, this stage of consolidation has often set the stage for bitcoin’s strongest periods of growth.

At the same time, XWIN Research Japan observed that profit‑taking among long‑term holders had slowed.

The firm said this trend reduces the amount of bitcoin available on the market, helping to counter short‑term volatility and laying the groundwork for renewed demand to push prices higher.

Per XWIN, these signals indicated that the current cycle was far from over. The firm suggested that the latest consolidation may in fact be preparing the stage for bitcoin’s next major upward move, keeping the broader bull market intact.

Meanwhile, the Crypto Fear & Greed Index has shifted back to a “Neutral” reading for the first time since September 19, recovering from a stretch marked by “Fear.”

On Monday, the index climbed to 50 out of 100, up 13 points from the previous day.

This marks a steady rebound from Friday, when the index dropped to 28, its lowest level since mid‑April, a period that coincided with bitcoin falling to around $80,000.