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Dormant Bitcoin wallet moves 2,931 BTC worth about $188 million after seven years

Dormant Bitcoin wallet moves 2,931 BTC worth about $188 million after seven years

The 2018-era coins were moved in two transfers to an unlabeled second-hop address with no outbound activity, as analysts monitored whale-led exchange inflows for possible selling pressure.

BTC

Fact Check
The Whale Alert X post confirms 191,806,130 USDT (~$191.7M) transferred from an unknown wallet to Bybit on 2026-07-13, matching the claim's figure ($191.8M). The Whale Alert transaction page verifies the underlying Ethereum on-chain transfer to a Bybit-labeled address. Cryptobriefing independently corroborates both the amount and the Global Assets Fest timing context. All primary indicators align with the claim.
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Summary

A Bitcoin wallet dormant for seven years moved 2,931 BTC worth about $188 million, reviving coins last active when Bitcoin traded near $6,500. Arkham said the funds were first transferred from wallet “356my” to a new address, “bc1qn,” and then moved again to an unlabeled second-hop address, where they remained with no outbound transaction at the time of reporting. While the transfers do not confirm a sale, they drew attention as analysts tracked elevated whale-driven exchange inflows and the potential for added market supply from long-inactive holders.

Terms & Concepts
  • exchange whale ratio: A metric showing how much exchange inflow is driven by the largest transfers, used to gauge whale activity.
  • second-hop address: A wallet address that receives funds after an initial transfer.
  • Satoshi-era holder: A Bitcoin owner whose coins date back to the network’s earliest years.