- A dormant whale sold 80,202 BTC for $9.53B, averaging $118,834 per coin, with the final batch sent to Galaxy Digital.
- 76% of BTC holders are long-term investors, and 98% are in profit, showing high confidence despite recent volatility.
- Exchange outflows and reduced sell pressure post-July 14 suggest continued institutional accumulation above $120K BTC price.
A dormant Bitcoin address dating back 14 years has now fully liquidated its holdings, totaling 80,202 BTC. Over the past three days, the whale gradually moved all its Bitcoin, valued at $9.53 billion.
The final batch of 40,192 BTC, worth approximately $4.83 billion, was transferred to Galaxy Digital. These tokens were originally acquired for $132,000 in total, a 72,000-fold increase in value. The average transfer price for the entire liquidation was $118,834 per BTC.
Exchange Outflows Show Accumulation Momentum
Despite this massive sell-off, on-chain data shows a strong bullish trend across the broader market. IntoTheBlock reports that 76% of Bitcoin holders have held their coins for more than a year. In addition, 98% of all BTC holders remain in profit, while only 1% are at break-even.
None are currently holding at a loss. These figures suggest steady long-term holding behavior. Concentration by large holders is at 12%. These metrics support the idea that institutional and long-term holders continue to dominate the market.
In the last seven days, over $232.31 billion moved through large transactions, while netflows recorded a negative $1.45 billion, showing continued outflows from exchanges. This pattern, particularly after July 14, indicates reduced sell pressure and potential accumulation.
Liquidations Rise as Market Volatility Increases
At the same time, liquidation data from Coinalyze shows increased volatility in recent trading sessions. Over the past 24 hours, total liquidations reached $118.8 million, largely from long positions.
Specifically, $69.1 million in long positions were liquidated, while short positions accounted for $49.7 million. Binance recorded the highest number of liquidations, especially among long traders.
Meanwhile, exchanges such as OKX, Bybit, Huobi, and Bitfinex showed lower volumes. These liquidation spikes often follow significant price movements and may reflect sharp reactions to whale activity or institutional shifts.
Price Action Holds Steady as BTC Maintains Above $120K
Between June 23 and July 14, Bitcoin surged from $97,000 to above $122,000, an increase of 30.9%. The most notable rise occurred between July 9 and 11, aligning with a $400 million spike in net inflows. Since then, the price has pulled back slightly but remains stable above $120,000.
Outflows have dominated, especially during the July 14 peak and afterward. This continued trend shows fewer BTC being sent to exchanges, often interpreted as reduced intent to sell.
If the outflows persist and price remains above $120,000, bulls may maintain control. Support currently is near $115,000, while resistance remains between $127,000 and $130,000.
Although a historic whale has exited the market with over $9.5 billion in Bitcoin, the broader data shows persistent exchange outflows, strong holder profits, and resilient price action, indicating a still-active market with substantial institutional presence.
