- Dormant Bitcoin whales moved 80K BTC worth $8.69B, raising concerns amid limited trader response.
- Solana and Dogecoin face pressure from profit-taking, despite broader optimism and institutional support.
- Bitcoin’s strong support between $102K–$103K may signal a local bottom, but whale moves hint at unseen risks.
Bitcoin is currently holding above $107,000, maintaining strong price support despite visible cracks emerging in the broader altcoin market. Major tokens including XRP, DOGE and SOL have shown signs of fatigue as profit-taking activity intensifies.
According to analysts from SignalPlus and HashKey Group, institutional interest and improving macroeconomic conditions continue to support overall sentiment. However, recent dormant Bitcoin whale activity has raised questions about whether traders are paying enough attention to underlying risk signals.
Lookonchain reported that a Bitcoin OG, inactive since 2011, moved 80,009 BTC worth $8.69 billion—yet trader behavior appears largely unaffected.
Altcoin Pullbacks Coincide with Whale Activity Across Multiple Tokens
While Bitcoin stays steady, altcoins like Solana and Dogecoin are facing pressure as traders lock in profits near resistance zones. On July 7, Solana slid into negative territory after starting the day with gains, resembling similar trends in other major altcoins.
During the same period, Whale Alert reported that 586,233 SOL, worth nearly $89 million, was moved to Coinbase from an unidentified wallet. This large-scale transaction has raised speculation around possible liquidation or treasury restructuring, as the motive remains unknown.
Meanwhile, the sell-off has not impacted the broader positive sentiment in full. Analysts from SignalPlus and HashKey Group noted institutional events such as JPMorgan’s trademark filing for digital asset services and the launch of Canada’s XRP ETF by Purpose.
Dormant Bitcoin Whales Reactivate After Over a Decade
Bitcoin OG wallets that had been inactive for over 14 years have recently transferred massive amounts of BTC. According to Lookonchain, all eight wallets tied to the same long-time holder collectively moved 80,009 BTC worth over $8.69 billion.
Two of those wallets had received 23,377 BTC back in April 2011, when Bitcoin traded at $0.78. In early July, these wallets each shifted 10,000 BTC, valued at over $1.1 billion, within 30 minutes.
Shortly after, another whale deposited 1,550 BTC, or $167.36 million, into Binance. Commentators questioned whether this move was related to the awakening of the long-dormant wallets.
Traders Focus on Price Floors While Overlooking Whale Movements
Despite these significant transactions, traders have largely remained focused on price levels and technical support. Analysts from Bitfinex stated that if Bitcoin maintains support between $102,000 and $103,000, it could confirm a local bottom.
However, the lack of visible market reaction to the Bitcoin OG activity suggests a possible disconnect. While Bitcoin’s market cap holds near $2.2 trillion, some traders may be overlooking the implications of such high-value wallet movements.
As profit-taking continues on major altcoins and dormant whales reemerge, market movements show contrasting priorities between price action and long-term holdings.
