A massive Bitcoin transfer from Coinbase to an unknown wallet was discovered by the blockchain tracking service Whale Alert.
Saturday, July 19, 2025, at 03:43:18 UTC, 7,743 BTC (worth approximately $916.25 million) moved from the exchange to a newly created wallet.
At the time of the transfer, Bitcoin was trading at $118,329.11. This substantial transaction could suggest institutional accumulation by the main owner or long-term refrigeration.
Whale awakening
The relocation is only part of a larger trend as whales’ activity in the Bitcoin market has recently skyrocketed.
Data from IntotheBlock confirms that the number of large transactions has risen sharply over the past two weeks, indicating that large holders have been updated in the ecosystem.
In addition to the plot, the ancient Bitcoin Zilla, which had been dormant for 14 years, is resurfaced.
According to Lookonchain, the longtime owner It moved BTC in billions of dollars within just a few hours. The total $8.7 billion transactions were distributed to unknown wallets in a series of high value transfers.
Whale Alert Tracking Moves of 10,000 BTC per batch in eight separate transactions, totaling 80,000 BTC has all moved for the first time since 2011. These major moves have sent shockwaves through the broader crypto market.
BTC price eye chance correction
This wave of whale activity coincides with growing concerns about potential Bitcoin price corrections. Bitcoin prices fell sharply early in the week, shortly below $117,000, reaching an intraday low of $116,218, following signs that ancient whales may be selling their holdings.
Prices have since recovered partially, but volatility has been strengthened.
Lookonchain Report The same long-term whale recently moved 9,000 BTC ($1.06 billion) to Galaxy Digital. Shortly afterwards another large transfer of 7,843 BTC occurred.
The market was quick, with short-term volatility rising sharply, with at least one major whale turning its long position and turning it into a short.
Approximately $236 million worth of BTC has already been moved to these platforms. The activity raised speculation that more sales pressure could be imminent.
