Bitcoin Whales Are on the Move: How Will This Impact Its Upward Price Momentum?

A Whale is the term given to a wallet that holds a vast amount of the cryptocurrency Bitcoin. Recently, long-dormant wallets have sparked back to life, moving currencies and selling them off. The most recent headline-making moment came just last week, with a $9.5 billion cryptocurrency sale. The original bitcoin was bought for $54,000 back in 2011, 80,000 BTC in total, netting the holder an 18 million percent return over 14 years.

It’s the kind of long-play that mirrors how some artists approach their craft. A small, early investment, whether it’s studio time, gear, or an unshakable belief in a sound, can evolve into something massive over time. Patience, timing, and a bit of vision can shift the game entirely, whether you’re building a crypto fortune or shaping the next genre-defining track.

Why Are Whales Selling Now?

Bitcoin has recently had a very positive upswing in price, amidst a crypto-friendly year. At the time of writing, the Bitcoin price is at $118,604. This has come off the back of record price highs, where it reached $122,838 on July 14th. There are still those predicting higher growth, though it seems that these whales have decided now is the ideal time to cash in.

This is the epitome of the HODL strategy. Born in the early days of cryptocurrency, it’s the belief that one day digital assets will be worth far more than their original value. As prices surged and crashed, it took serious conviction not to sell and walk away. Hold on for dear life, HODL, became the rallying cry, and for many, that long-term patience is finally paying off.

In a way, it’s not unlike the independent music grind. Staying the course through highs and lows, believing in long-term growth despite short-term noise, that’s what shapes both strong portfolios and standout careers.

Further Movements To Exchanges

This mirrors a further movement from one whale who has been offloading their Bitcoin in segments. At the start of July, the wallet, also dormant since 2011, began to move 80,000 BTC in instalments of 10,000 BTC per transaction. This was sent to eight different addresses. These belonged to Galaxy Digital, which has since moved them to a range of exchanges. An over-the-counter service, it is for people who want to trade large amounts of BTC. In total, their haul will be worth $4.8 billion in fiat currency.

Speculations began to emerge about who the owner of this wallet could be, with many speculating it could be Satoshi, the mythical and anonymous inventor of Bitcoin. Others have even theorized that it may be the CIA. Every four years, a bitcoin halving event takes place, which reduces the reward for crypto mining. Back in 2011, it was very easy for miners to quickly amass large sums, and it is most likely someone who mined cryptocurrency in the early days. These 80,000 BTC would have been worth around $62,400 back then.

How Could These Sales Impact Prices?

The seven-day moving average of BTC shipped from whale wallets to exchanges is reaching one of its highest figures ever, with 12,000 BTC almost sold in the past week alone. Last time this happened, it is worth noting it was in November 2024, and a bull run followed. This may have been down to macroeconomic and political conditions, which may not be prevalent now. A short-term run may be under pressure from these huge whale sell-offs. To be classified as a whale, a wallet must hold between 1,000 and 10,000 BTC. July was a big month for whale sell-offs, as they moved a combined 50,200 BTC to exchanges. This translates to over $6 billion in liquidity.

Some recent stats suggest these big movements are often followed by sharp drops. A similar dip happened in early July when 2,500 BTC hit the market, knocking nearly $1,000 off the price. It happened again the next week, triggering another 1.7% slide. And it’s not just the whales—retail investors are treading carefully too. Tools like the Spent Output Profit Ratio, which measures whether newer wallets are selling at a profit, showed a mid-month spike to 1.05, indicating more people were cashing out above their entry point.

At the same time, altcoins are heating up. Ethereum gained 19%, Solana jumped over 8%, and XRP led the pack with nearly 26% in gains. This surge has many speculating that altcoin season is underway, with Bitcoin holders shifting capital toward smaller-cap assets chasing higher returns. Just like some investors diversify into niche markets like altcoins, others explore unconventional wellness trends, from nootropics to mushroom gummies, as part of their long-term lifestyle investments. It’s also sparked a noticeable shift in corporate interest, where once companies rushed to stockpile Bitcoin, many are now eyeing the altcoin market, especially as XRP posts record performance.

In a way, it mirrors the music world’s shift from major label dominance to indie breakout success. While the big names still matter, eyes are on the smaller players pushing fresh sound—and sometimes, they’re the ones pulling the biggest numbers. The same goes for crypto right now: the momentum is moving from the center to the edges, and that’s where the innovation and volatility live.