The cryptocurrency market is gaining momentum as two old Bitcoin wallets that had been in a "hibernation" state for 14 years suddenly became active again. These wallets held 20,000 BTC.
This event drew attention due to its massive value and sparked speculation about its market significance and impact.
Dormant Bitcoin Worth $2 Billion Moves…Market Speculation
According to LookOnChain, one of these wallets was created on April 3, 2011. At that time, the Bitcoin price was just $0.78. The owner purchased 10,000 BTC for less than $7,805.
This wallet had been inactive for over 10 years. Then, in early July 4, 2025, the entire BTC balance was moved.
On the same day, LookOnChain also detected another wallet that had been holding 10,000 BTC since 2011, showing similar movement.
These two wallets held a total of 20,000 BTC, with a total value exceeding $2 billion. They moved all Bitcoin to new addresses. Such movement is rare in "Satoshi era" wallets. These wallets used the legacy format commonly used at the time.
The movement of 20,000 BTC occurred near the price of around $110,000, where Bitcoin is approaching its all-time high. This added more intrigue to potential owner motivations.
Some X users suggested this could be a signal that early investors (OG holders) have finally decided to cash out after holding for over 10 years. After all, Bitcoin's price has risen hundreds of thousands of times since they first purchased it.
"From $7,805 to $1.09 billion… This is the best investment decision of the century…," said the X account Crypto Alpha.
Other theories emerged. There's a possibility the wallet was hacked, though no concrete evidence exists. The owner might have moved Bitcoin to a new wallet for better security or to prepare for future transactions.
For whatever reason, Bitcoin's price on July 4 was relatively stable, maintaining around $109,000 without significant fluctuations.
Bitcoin Coin Days Destroyed Q2 Rise
Coin Days Destroyed (CDD) is an on-chain indicator measuring Bitcoin's actual activity level. It looks at how long coins have been in a "dormant" state.
A high CDD means many "old" coins are being moved.
According to CryptoQuant data, CDD increased from 10 million to 17.5 million in the second quarter, then decreased to 11 million in early July.
When long-dormant Bitcoin whale wallets become active and CDD rises sharply, this can have a significantly negative impact on price.
