Satoshi-Era Bitcoin Whales Move 3,422 BTC, Fueling Market Concerns

Highlights:

• Two dormant Bitcoin wallets moved 3,422 BTC, worth $324.2 million.
• The wallets, inactive for over ten years, didn’t involve exchanges.
• Bitcoin stays stable between $94K-$95K as traders expect market changes.

According to blockchain analytics platform Spot On Chain, two Bitcoin wallets from the Satoshi era, inactive for over ten years, have suddenly become active. The wallets had been inactive for over ten years. Suddenly, they moved 3,422 BTC, worth about $324.2 million. None of the Bitcoin was sent to any exchange. This caught the attention of analysts and the crypto community. Many are now wondering why these transfers happened.

The wallet labeled “1NWPS” had been inactive for about 10.5 years before transferring 2,343 BTC, valued at nearly $222.2 million. Meanwhile, the “1PiEK” wallet, which had not been used for 11.75 years, moved 1,079 BTC, worth approximately $102.5 million.

These transactions are significant as they show long-term holders moving their coins. While this raises concerns about potential market sell-offs, there’s no evidence yet of these coins reaching exchanges. Such movements have historically triggered price fluctuations and conspiracy theories, though it’s unlikely Satoshi Nakamoto is involved.

$324.2M in #Bitcoin on the move after over 10 years of dormancy!

In the past 3 hours, two Satoshi-era whales, who had been inactive since 2014, transferred 3,422 $BTC ($325M) to new wallets:

Whale “1NWPS” woke up after 10.5 years, moving 2,343 $BTC (~$222.2M).

Whale… pic.twitter.com/UKb78WJDXp

— Spot On Chain (@spotonchain) May 6, 2025

Dormant BTC Whales Awaken as Fed Decision Sparks Market Caution

These big moves come right before the Federal Reserve’s interest rate decision on Wednesday, May 7. The Fed is expected to keep the interest rate between 4.25% and 4.50%. This decision comes as policymakers stay cautious due to economic uncertainty, including the effects of recent U.S. tariff policies. These large transactions by big players, happening just before the Fed’s announcement, suggest they might be preparing for market changes.

Bitcoin has been stuck in a tight range, fluctuating between $94,000 and $95,000 after dropping from $97,700 on May 2. Additionally, on-chain data shows a profitable market, leading some to wonder if traders are getting ready to secure their profits. Glassnode reports that roughly 88% of Bitcoin’s circulating supply is in profit. The majority of losses are from those who purchased between $95,000 and $100,000. At the time of writing, Bitcoin was priced at $94,442, showing a 0.21% decline over the past 24 hours, as per CoinMarketCap data.

Bitcoin Faces Selling Pressure as Coinbase Premium Gap Remains Negative

Verified CryptoQuant analyst Abram Chart highlights that Bitcoin is currently priced lower on Coinbase than on other platforms. This price gap indicates that U.S. traders might be offloading more Bitcoin than they’re buying, which often puts downward pressure on the market.

Currently, the Coinbase Premium Gap is at -5.07. Abram’s chart shows the premium is falling after a recent rise. If it stays negative, Bitcoin may continue to decline. But if it turns positive again, it could hint at renewed U.S. buying, possibly pushing the price up.

Read more https://t.co/xiFc9a4VIF

— CryptoQuant.com (@cryptoquant_com) May 6, 2025

Despite some large U.S. holders offloading Bitcoin, institutional investors are stepping in. On May 5, Bitcoin exchange-traded funds (ETFs) recorded $425.5 million in total inflows. BlackRock’s IBIT ETF led the way with a massive $531.2 million investment.

Meanwhile, Strategy, previously known as MicroStrategy, purchased 1,895 BTC for $180.3 million, at an average price of $95,167 per Bitcoin. This move adds to their growing Bitcoin holdings, and so far in 2025, the company has earned a 14% return on its Bitcoin investments.