A long‑dormant Bitcoin wallet shifted about 4,582 BTC, valued at $377.6 million, to five new addresses on Monday, and none of the recipients have yet moved those funds.

The wallet originally took in the Bitcoin in March 2020, just days before the cryptocurrency’s price fell below $4,000, when the holdings were worth roughly $40.8 million.

Transfers from wallets that have been inactive for a long time can hint at possible selling pressure and increased market volatility, but the move could also be a routine reshuffle between addresses owned by the same individual.

A bitcoin

The wallet identified as 18VmXvkF4cgLi35RtMiHHDpvMjUCyVpQ9x dispatched roughly 4,582 BTC to five addresses on Monday, according to data from Arkham and mempool.space, two public blockchain explorers that track every transaction.

Four of the receiving addresses each received exactly 1,000 BTC, while the fifth got about 582 BTC. At the time of writing, none of the five have moved the coins.

Records show the coins arrived in the wallet on March 3, 2020, from the address 17VX1BEjYVyBMi2vw6nXDrpwMvCSweHZot. Nine days later, Covid‑19 panic swept markets and Bitcoin plunged more than 40 % to under $4,000—a level the market has not seen since.

When the coins first arrived they were worth about $40.8 million. By the recent transfer, their value had increased roughly ninefold.

The wallet remained silent for over four years after receiving the funds. Its first outbound transaction occurred in August 2024, a modest 0.009 BTC payment to bc1qmpjs55x326wvnvtwvkwfqqzzlyljk7ffmdw32g, with the remainder sent back to the same wallet.

Several on‑chain analysts have noted a correlation between long‑dormant whales moving large amounts and heightened market volatility. Data from CryptoQuant shows that sudden spikes in metrics such as Coin Days Destroyed (CDD) and older Spent Output Age Bands often precede price corrections or periods of high volatility.

Large transfers from long‑held wallets are frequently read as a sign that the owner may be preparing to sell, but they can also be routine security moves, like shifting coins between addresses under the same control. The intent behind the latest transfer remains unclear.

Addresses tied to the U.S. government recently moved Bitcoin worth at least $1.5 billion. It is still unknown whether those transfers were intended for sale or were internal shuffles between government‑controlled wallets.

Diversified RWA‑backed stablecoins are delivering a 5‑7 % yield from real‑world credit as crypto funding rates compress to around 4 %. GENIUS is taking yield off‑chain, and the total addressable market has grown to $4 billion in just three years.

Why it matters: Diversified RWA‑backed stablecoins are delivering a 5‑7 % yield from real‑world credit as crypto funding rates compress to around 4 %. GENIUS is taking yield off‑chain, and the total addressable market has grown to $4 billion in just three years.