On July 31st, something unusual and uneasy happened. Bitcoin Price. Five minor wallets, which have not been touched in over 15 years since April 2010, have moved nearly $250 BTC to two new addresses. These wallets were created on the early days of Bitcoin when mined on a basic CPU and few people imagined it would become a trillion dollar asset.
Their sudden revitalization adds fuel to activities in the chain for already weeks, including billions of dollars transfers Satoshii and the Gill Whale An aggressive institutional movement. The market pays attention when the oldest coin begins to move. The question is whether this marks the beginning of a deeper sale or the final shakeout before Bitcoin’s next big move.
Bitcoin OG is awakening: What’s coming next?
Date: July 31, 2025
Serious things are brewed on the Bitcoin network, and the signal is too big to ignore. On July 31st, five minor wallets (each of which has not been mentioned in more than 15 years) since April 2010 suddenly moved 250 BTC worth $2.5 million to two new addresses. These are not your daily whale travel. These are coins mined when Bitcoin was just a hobby for dozens of crypto enthusiasts when it was trading for less than 10 cents.
That alone is worth noting. But this is just the latest move in a month filled with major redistributions by long-term holders. With ancient coins awake and massive whale rearrangements urgently, are we at the edge of the much-anticipated sale, or is this the beginning of a deeper phase of integration before another gathering?
July 15th-18th: $9.54 billion sales begin
This all began in mid-July, with one of Bitcoin’s oldest owners, Satoshii Ella, moving funds that one of the four-year-olds had not been introduced in over 14 years. On July 17th, 40,192 BTC was transferred to a fresh wallet. Just two days ago, 40,009 BTC had already been sent to Galaxy Digital. In total, it is 80,202 BTC, worth more than $9.5 billion at the time of relocation.
By July 18th, the final batch of 40,192 BTC had landed on the hands of Galaxy Digital. These transfers matched a Bitcoin price of around $118,000. What followed was predictable. When Galaxy Digital began offloading, the market responded immediately. Within 12 hours of the first 40,000 BTC move, the price of Bitcoin slipped from 117,685 to 115,967.
July 25th: Exchange deposit checks sales pressure
On July 25th, Galaxy Digital deposited 11,910 BTC (worth $13.9 billion) in multiple exchanges. These coins were probably part of the stash we obtained from the Satoshi Ware whales. Just 10 days ago, Galaxy had already sent 2,000 BTC to Bibit and Binans.
This activity demonstrates the intention to prepare for sales or at least liquidity for the transaction of the facility. Not all transfers to exchanges lead to sales, but they usually precede them. The 2% price drop following these deposits strengthened that assumption.
July 29: accumulation begins to be offset
New players intervened while distributions continued from Galaxy and other OG wallets. On July 29th, blockchain analysts discovered a massive accumulation activity. Over four days, one Bitcoin Zilla withdrew 3,500 BTC (worth around $409 million) from Gemini, causing the recent withdrawal of 317 BTC six hours before the 2010 dormant state was reinvigorated.
This accumulation averaged $116,950. These are not retail size transactions. This is a deep capital positioning for long-term play, and it could be bet that sales pressure is temporary and that the market is absorbing the distribution neatly.
July 31: Minor wallet from 2010 has been reconfirmed
Returning to today’s catalyst. The 250 BTC move from the five minor wallets last used in April 2010 raises some flags. First, it is believed that coins of this era are often lost forever. Their sudden reactivation is added to the waves of re-entered circulation of the old supply.
These wallets earned 50 btc each when the blocks were rewarded much more and there was little competition. Anyone who has kept these for over 15 years has seen their stacks grow from under $5 to nearly $30 million. This move may suggest a strategic portfolio diversification or pre-sales restructuring, particularly following the leads of Galaxy Digital.
What does this mean for Bitcoin prices?
The convergence of these movements indicates that this is not a random activity. As coins begin to move along their travel within a multi-billion dollar facility for more than a decade, they usually mark a transition in the market structure.
Here are two possible results:
Scenario 1: Short-term revision
As galaxy-led sales continue and more OG wallets move to exchange coins, another leg may be lowered. Bitcoin prices have already slipped into the 116,000 range from a high of nearly 119,000. If this continues without strong absorption, Bitcoin can test support for around 112,000 or temporarily soak it below 110,000.
Scenario 2: Supply absorption and rally restart
If the trend of new accumulation observed on July 29th accelerates and exchange balances begin to decline, it could mean that the market is effectively absorbing old supply. In that case, this redistribution could be a healthy reset, setting a stage for a move back to over 122,000 within a few weeks.
The $116,000 to $118,000 range has become a key pivot zone. If it is held, confidence can quickly return. If it breaks with volume, expect more aggressive volatility.
Conclusion: When old security guards move, the market reacts
In just two weeks, over 90,000 BTC has re-entered the market from early holders. This includes the large Galaxy Digital transaction Satoshi-Era Whale, and the revival of miners in 2010. This is no coincidence. This is a reshaping of Bitcoin’s holder-based.
Smart traders and analysts will look to on-chain flow for the next 72 hours. If older coins start to stir, or if the exchange balance is spiked, there are more downsides. But as cold wallet accumulation rises and inflows slow, the worst may already be behind us.
No matter what the price goes in any direction, there is one thing for sure. Old Bitcoin money has moved. Now it’s time to see who will take the other side.
