- A 14-year dormant whale moved 40,010 BTC worth $4.69B to a Galaxy-linked wallet, signaling possible institutional repositioning.
- BTC exchange inflows topped $600M on July 14, reversing June’s outflow trend and hinting at profit-taking or liquidation setup.
- Despite $114M in liquidations, 86% of BTC holders remain in profit, with 76% holding long-term, showing market resilience.
A dormant Bitcoin whale holding 80,000 BTC for over 14 years moved 40,010 BTC, worth $4.69 billion, on July 14 to an address reportedly linked to Galaxy Digital, according to blockchain tracking firm EmberCN.
The transfer occurred at an average price of $117,391 per Bitcoin. Despite the massive outflow, the whale still holds 40,000 BTC across four wallets that remain inactive. This rare movement comes during a phase of rising exchange inflows and increased liquidations.
Bitcoin Netflows Show Shift in Market Behavior
Exchange flow data reveals a dominant outflow trend from June 20 to July 10, reflecting continued accumulation or withdrawal to cold storage. The most significant outflow occurred on June 22, hitting approximately $350 million.
That outflow coincided with a sharp BTC price dip below $100,000. However, the trend reversed after July 10, as inflows exceeded $300 million on multiple days. On July 14, the same day as the whale transfer, inflows spiked beyond $600 million, the highest during the observed period.
This shift may indicate large holders taking profits or preparing for liquidation. BTC’s price followed this movement, recovering from a June 22 low of around $96,000 to a high of $125,000 by July 13. Following that peak, the price pulled back to about $118,000 on July 15.
Whale Concentration and Profit Distribution Remain Strong
According to IntoTheBlock, 86% of BTC holders remain in profit, while 13% are at break-even, and only 1% face losses. This distribution suggests most holders entered the market early or during previous dips.
Meanwhile, 76% of Bitcoin holders have kept their assets for more than a year, with only 4% categorized as short-term holders. This time share continues to support market stability despite recent volatility.
The concentration of BTC among large holders is at 12%, indicating relatively healthy decentralization. Recent high-volume transactions, reaching $164.28 billion over seven days, further show ongoing activity from institutions and high-net-worth entities.
Liquidations Surge as Price Corrects
Coinalyze data shows total BTC liquidations at $114 million in the last 24 hours. Long positions took the hardest hit, accounting for $100.5 million. Bybit led the exchanges with around $50 million in liquidations, followed by Binance with $15 million.
The high number of liquidations followed the recent price correction from the $125,000 high. BTC futures activity also saw relatively low liquidations, at $220,600, compared to perpetual contracts.
With netflows rising and price retreating, many traders appear to have misjudged the recent peak. The sudden whale movement to a Galaxy Digital-linked address, combined with sharp shifts in netflows and liquidations, is a pivotal moment.
Most holders remain in profit and show long-term commitment, while institutional activity continues to drive transaction volumes. Recent inflows, liquidations, and price corrections reflect mixed market behavior, influenced heavily by large wallet actions and exchange outlook.
