Bitcoin whales that started moving after a 12-year hiatus — unrealized gains exceeding 13,000%

According to data from a blockchain analysis agency, a Bitcoin wallet that had been inactive for over 12 years made a significant move on Monday. 909 BTC (currently worth approximately $84 million) was transferred from the address “1A2hq…pZGZm” to a new address. This movement has sparked considerable discussion in the cryptocurrency market, with speculation about the whale’s (large holder’s) intentions flying around.

What is noteworthy is when the assets in this wallet were acquired. The coins were accumulated during a period when Bitcoin was trading below $7,000, and the unrealized profit since then has exceeded 13,000%. This figure vividly illustrates how much unrealized gains long-term holders are sitting on.

The movement of 909BTC—what is unrealized profit?

Unrealized profit refers to the theoretical gains on assets that have not yet been sold. In this case, Bitcoin purchased around 2013 or earlier, which is now trading near $88.12K, represents enormous unrealized gains.

The whale’s activity has a significant impact on market sentiment. The fact that an address dormant for 12 years is moving is interpreted as a sign that a major decision has been made. Well-known chain analysis firms like Whale Alert and Lookonchain quickly detected this movement and published the data. Many market participants began to worry that a large profit-taking sale might be imminent.

Interpreting the whale’s next move through chain analysis

Interestingly, the transferred BTC has not yet been sent to an exchange. This is a very important point. If the intention was to realize profits immediately, the coins would typically be sent directly to an exchange address. Coins held on exchanges are often considered to be in a “ready-to-sell” state.

Current circumstances suggest that this large holder may have transferred coins from an old wallet to a new address for asset management or security enhancement purposes. Alternatively, it could be part of a “consolidation process” to gather assets that were previously dispersed into one location.

Underlying these developments is the changing landscape of the Bitcoin market. Since Bitcoin surpassed the $100,000 mark last year, dormant addresses have been awakening in succession. It can be interpreted that veteran holders, sitting on unrealized gains, are reevaluating their assets and resuming position management.

Profit-taking or asset reorganization—considering market impact

Discussions on social media are lively regarding whether this whale’s movement signals a price decline. Indeed, activity from addresses holding large unrealized gains can sometimes serve as a warning of selling pressure. However, at this point, it remains unclear whether this coin will be sold immediately.

The current Bitcoin price hovers around $88,000, which may suggest a slight correction phase. The fact that coins bought for less than $7,000 twelve years ago now hold such value not only demonstrates Bitcoin’s long-term appreciation but also indicates the potential for substantial profit-taking pressure lurking beneath the surface.

The relationship between Bitcoin and the dollar—an overview of the market environment

Interestingly, Bitcoin is not currently showing the typical correlation with the decline of the US dollar. According to JPMorgan strategists, the current dollar weakness is not due to macroeconomic structural changes but is merely a short-term liquidity and sentiment fluctuation.

In other words, the market views the dollar decline as a temporary phenomenon, expecting the dollar to stabilize as the US economy strengthens. As a result, Bitcoin is treated more as a “risk asset” rather than a dollar hedge, with traditional alternative assets like gold and emerging markets benefiting from dollar diversification.

Considering the whale’s unrealized gains alongside the overall market picture, Bitcoin is in a complex dynamic. On one hand, there is potential profit-taking pressure from long-term holders; on the other, new demand and institutional investor participation are positive factors coexisting in the current environment.