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A long-silent Bitcoin wallet woke up this week and emptied roughly 400 BTC into several new addresses. According to blockchain trackers, the address sent its coins in multiple transactions, mostly split into batches of 15 BTC. The total value moved is roughly $44 million, based on current prices.
Wallet Linked To Early Mining
Reports have disclosed that the coins trace back to mining activity from nearly 15 years ago. Lookonchain tied the funds to the early days of Bitcoin, and records show the wallet last moved coins in 2013, when Bitcoin traded near $135 per unit.
That price then compared with today’s level — around $111,763 per BTC — means the holding rose by about 830 times in value since it went quiet.
A dormant wallet woke up after 12 years, moving 400.08 $BTC($44.29M) to multiple new wallets 3 hours ago.
The 400.08 $BTC was received from miners 15 years ago.https://t.co/aem7WhbkOu pic.twitter.com/3m4XSBNXFO
— Lookonchain (@lookonchain) September 29, 2025
Arkham Intelligence spotted the distribution pattern, noting the repeated 15 BTC transfers that drained the address. Even with full visibility of every transaction on the blockchain, the owner’s identity remains unknown.
The pattern — chopping large sums into smaller, repeated amounts — is a common way wallets move coins without dumping everything on a single exchange at once.
Part Of A Wave Of Old Addresses Becoming Active
This activation comes amid a string of moves from so-called Satoshi-era wallets. Based on reports, institutional and private holdings tied to early investors have been on the move lately. In July, Galaxy Digital sold more than 80,000 BTC linked to an estate, a sale that markets valued at close to $10 billion.
Another dormant address holding 444 BTC became active in September 2025 and moved approximately $50 million. Recently, one of the big holders is said to have cycled more than $5 billion of Bitcoin into Ethereum, locking up close to $4 billion worth of ETH afterward.
Market Signals Remain Mixed
October has traditionally been a good month for Bitcoin, with previous rallies of 40–45% in certain years, but the current signs indicate less conviction. Holder retention level has dropped to 80%, and on-chain derivatives flows and whale outflows suggest weaker demand.
Bitcoin was trading near $114,000 at one point today, with a one-day gain of 2.05% reported, but analysts are watching risk levels closely. A continued selloff could push price toward $107,000; renewed buying pressure could take it back up toward $119,000.
What This Means Going Forward
Movements from Satoshi-era addresses carry symbolic weight, because they come from the group that held Bitcoin when it was still experimental and very cheap.
Whether this 400 BTC transfer will spark wider selling or simply mark a reallocation remains to be seen. For now, the market has a clear record of the move, but the reason behind it — estate settlement, profit-taking, or internal reshuffling — is unknown.
Featured image from Pexels, chart from TradingView
