Bitcoin market activity intensified after a long-dormant whale began selling a massive portion of its holdings, as the wallet identified as the 5K BTC OG reemerged after more than 12 years of inactivity. It originally received 5,000 BTC in 2012 when Bitcoin traded close to $332, giving the entire holding an estimated value of about $1.66 million at the time.
According to Lookonchain and Arkham, selling activity began on Dec. 4, 2024, and since then the wallet has sold 2,500 BTC through a series of structured transactions. Those sales generated around $265 million at an average exit price of $106,164 per BTC, while blockchain data also shows another 500 BTC was recently transferred to Binance.
That single transfer carried an estimated market value of $47.77 million, highlighting the scale of capital now flowing from the once-dormant address. Notably, the selling process followed a controlled and deliberate pattern, with each transaction ranging between 250 BTC and 500 BTC per deposit. Moreover, the whale spread these transfers across at least 10 exchange-bound movements, and this activity unfolded gradually over a five-month period.
Such timing suggests an effort to tap deep liquidity pools efficiently while minimizing market disruption.
An OG who received 5,000 $BTC 12 years ago sold another 500 $BTC($47.77M) today.
This OG originally received the 5,000 $BTC 12 years ago($1.66M at the time), when $BTC was priced at $332.
Since Dec 4, 2024, he has been selling $BTC, dumping 2,500 $BTC($265M) at an average price… pic.twitter.com/g9R3CuScFU
— Lookonchain (@lookonchain) January 18, 2026
Gradual Distribution Heightens Tension Near $100,000
Bitcoin continues trading just below the $100,000 level, a closely watched resistance zone, and legacy supply entering the market has added fresh selling pressure. However, the phased approach has limited sudden price volatility so far, with traders noting that no single transaction disrupted exchange order books significantly.
According to Arkham data, the wallet still holds 2,500 BTC, and that remaining balance carries an estimated value of $237.5 million at current prices. Besides realized profits, the whale’s total gains now exceed $500 million, placing this outcome among the most profitable long-term Bitcoin holdings recorded.
Importantly, these coins stayed untouched since the early post-Satoshi era, and their movement marks a shift from long-term dormancy to active market participation. Hence, traders continue tracking the wallet’s activity with heightened attention, as large legacy holders often influence sentiment beyond their actual volume impact.
So far, the selling aligns closely with broader market liquidity conditions, while the consistent transaction sizes indicate a predefined execution strategy. This behavior reflects increasing sophistication among early Bitcoin adopters navigating modern trading environments. Market participants now monitor whether further transfers will follow, since the remaining balance represents a significant source of potential supply. As Bitcoin hovers near resistance, this quiet distribution continues to keep traders on edge.