Dormant 16,000 BTC Spring to Life — Are Whale Losses Mounting to $7 Billion?

Jakarta, Pintu News – As the crypto market continues to decline, Bitcoin (BTC) wallets that have been dormant for the past three years are starting to show activity again.

As of October 22, Bitcoin’s on-chain activity recorded a major event: a total of 15,965 BTC that was previously immobile for about three years, suddenly returned to the market.

According to CryptoQuant analyst JA Maartun, this is the first major movement of these wallets since late 2022 to early 2023.

Long-Dormant Bitcoin Starts to Move

Data from CryptoQuant confirms that Bitcoin wallets that have been dormant for a long time – around two to three years – are showing activity again. Today, they are transferring large amounts of BTC to undisclosed destinations.

Read also: Bitcoin Price Stuck at $108,000 Today: BTC Ready to Strengthen?

The move occurred while the Bitcoin price was still below $110,000, after experiencing a sharp correction earlier this month from its record high of $126,000. At the current price of around $108,000, the value of the Bitcoin moved is approximately $1.724 billion.

These events sparked concern among market participants, who began to speculate whether there would be another massive sell-off.

In response to JA Maartun’s post, a market observer mentioned that the return to circulation of old coins during a price correction could be a worrying signal, as it could indicate a “shift in confidence” from long-term holders.

New Bitcoin Whale Starts to Make Losses

This surge in the movement of the old coin coincides with increasing pressure on new Bitcoin whales. As previously reported, new whale wallets that bought BTC around the recent peak price are now facing unrealized losses of nearly $7 billion – the highest figure since October 2023.

Data from CryptoQuant shows that the average purchase price of Bitcoin by these whales is around $113,000. In other words, most of them are currently in a losing position, as the market price is still below that level.

Even so, many large investors have continued their accumulation of BTC, seeing the current price drop as a long-term buying opportunity.

BTC Accumulation Continues Despite Loss Pressure

Crypto analyst Patel recently revealed that more than 26,500 BTC has gone into the wallets of accumulation whales, signaling a stealth buy amid market fears.

Read also: 2 Crypto to Watch Ahead of October US CPI Report 2025

He notes that patterns like this usually occur in the early phase of accumulation before a major uptrend begins.

Meanwhile, data from Glassnode showed a sharp decline in leveraged positions. Open interest fell by 30%, which helped create a healthier and more stable market structure.

What Will Happen Next

Market analyst Ted Pillows identified the $107,000-$108,000 zone as a key support level. If the price manages to stay within this range, there could be a relief rally (short-term rebound). However, if this level is broken, the price of Bitcoin has the potential to drop closer to $100,000.

Amid concerns that Bitcoin’s price could slip back below $100,000, Geoff Kendrick, Head of Digital Asset Research at Standard Chartered, remains optimistic that BTC is still on track to reach $200,000 before the end of this year.

In a recent interview, Kendrick mentioned that the October 10 crash and the current sluggish conditions are actually a great buying opportunity. He remains bullish, even in the worst-case scenario (“bear case”), and expects prices to go “well above $150,000” – as long as the Fed’s rate-lowering trend continues.

Looking ahead, Kendrick reiterated his long-term projections: Bitcoin could reach $500,000 by the end of Trump’s second term in 2028.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• The Crypto Basic. Nearly 16,000 Dormant Bitcoin Suddenly Move On-Chain As Whales Face $7B In Losses. Accessed on October 23, 2025