Bitcoin Whale Activity: Dormant Wallets Move $377M+, Spot Selling Pressure
A Bitcoin OG wallet moved 4,582 BTC ($377M) after six years dormant, while today's BTC price drop is confirmed as spot-driven rather than leveraged — a more bearish signal.
What we know
Lookonchain flagged a Bitcoin wallet dormant since 2018 transferring all 4,582 BTC ($377.6M) — an account on X — confirmed by @TheBlockCo. This is part of a broader wake-up pattern of old wallets moving. Meanwhile, on-chain analyst BayardXBT explains today's BTC drop is NOT a leverage flush: open interest barely moved (+0.08%), funding near zero, and Binance spot CVD is down 650 BTC — another account on X — meaning real spot holders are selling. Separately, SkyAI has sold 1.57M SOL ($175M) in October alone and confirmed further selling is possible — another account on X. Another account on X sees $85K as a potential target if current lows hold.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.