A long dormant Bitcoin wallet, originally accumulating 5,000 BTC in 2013, has continued its selling activity by offloading 1,000 BTC worth approximately $71.6 million. Blockchain data shows the same wallet has transferred around 3,500 BTC, valued near $332 million, to a major exchange since November 2024. The investor’s average purchase price was about $332 per BTC, while the selling price reached nearly $94,786, generating an estimated profit of $330 million. The wallet still retains roughly 1,500 BTC, currently valued at over $100 million.
Additional Early Investor Sales Add Pressure
In a separate transaction, early Bitcoin investor Owen Gunden reportedly sold 650 BTC worth $46.3 million. This sale contributes to a broader liquidation trend, with total disposals linked to the same entity exceeding 11,000 BTC, or more than $1 billion, based on blockchain tracking data.
Rising Whale Ratio Signals Market Shift
Data from CryptoQuant highlights a surge in large holder activity. The Bitcoin exchange whale ratio reached 0.83 on March 14, indicating that the top 10 deposits made up 83% of total exchange inflows. The ratio remains elevated at 0.66, suggesting whales continue to dominate selling pressure.
Bitcoin Price Decline Amid Heavy Inflows
Bitcoin has dropped 4.5% in the past 24 hours to $70,813 and remains over 43% below its October 2025 peak of approximately $124,700, reflecting sustained market pressure driven by large-scale sell-offs.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.