Ancient Bitcoin Whale Dumps $71M BTC as Billion-Dollar Selloff Expands

• Ancient bitcoin whale resumes selling, unloading massive holdings after years
• Dormant wallets awaken as a billion-dollar bitcoin selloff pressures market prices
• Early investors cash out profits as large bitcoin transfers hit exchanges

Bitcoin selling pressure intensified on Wednesday as early holders moved large volumes into the market. Activity from long-dormant wallets pointed to renewed distribution after years of inactivity.

Data from multiple analytics platforms showed that early investors are increasingly unlocking long-held positions. A bitcoin whale that accumulated 5,000 BTC more than a decade ago resumed selling during the session.

The wallet offloaded 1,000 BTC, worth about $71.6 million based on current prices. According to EmberCN, the same address has transferred 3,500 BTC to Binance since November 2024. These cumulative transfers represent roughly $332 million in total value.

Historical data shows the whale acquired bitcoin in 2013 at an average price of $332. Recent sales occurred at around $94,786 per BTC, generating estimated profits of about $330 million. Despite continued selling, the wallet still holds approximately 1,500 BTC valued at over $106 million.

Meanwhile, additional selling emerged from another early investor identified through onchain analysis. According to Lookonchain, Owen Gunden sold 650 BTC on Wednesday, worth about $46.3 million. This latest move adds to previous disposals totaling nearly 11,000 BTC, which exceed $1 billion in value. However, the wallet’s attribution remains unconfirmed and has been disputed in the past.

Also Read: Crypto Market Slides Sharply as Bitcoin BTC Drops 4.8% and Altcoins Follow

Dormant Bitcoin Supply Reenters Market Circulation

Significantly, these transactions reflect a broader trend of older bitcoin supply returning to active circulation. CryptoQuant data showed that the bitcoin exchange whale ratio climbed to 0.83 on March 14. This level marked one of the highest concentrations of large deposits since July 2024. The metric indicates that top wallets accounted for most exchange inflows during that period.

Although the ratio later eased to 0.66, large holders continue to drive a significant share of deposits. Consequently, whale activity remains a dominant force shaping short-term supply conditions.

Moreover, the steady movement of dormant coins suggests that early investors are actively distributing holdings into the market. Price action has responded with downward pressure as supply increases. Bitcoin declined by 4.5% over the past 24 hours, trading near $70,813. Additionally, the asset remains more than 43% below its October 2025 peak of around $124,700.

The renewed selling from early bitcoin holders highlights a shift in long-term supply dynamics. As billion-dollar disposals expand, market participants continue to track whether demand can absorb the growing inflows.

Also Read: Tempo Launches Payment-Focused Layer 1 With Stripe Machine Protocol

The post Ancient Bitcoin Whale Dumps $71M BTC as Billion-Dollar Selloff Expands appeared first on 36Crypto.