An early Bitcoin whale moved 2,931 BTC worth $188 million on July 2026, ending seven years of inactivity. The wallet had remained untouched since October 2018, when Bitcoin traded near $6,475 — meaning the value has increased by roughly tenfold. The transfer occurred as Bitcoin hovered around $62,940 after a 1.36% daily decline. On-chain data shows the Spent Output Profit Ratio (SOPR) near 1, indicating the broader market is making only small gains rather than aggressive profit-taking. Meanwhile, retail and small investors accumulated Bitcoin steadily between April and July 2026, while larger wallets showed mixed behavior.
A Bitcoin whale that had been dormant since October 2018 moved 2,931 BTC to a new wallet on July 2026. At January 2026 prices, the stash was valued at roughly $188 million, representing a nearly tenfold gain from the $6,475 level at which Bitcoin traded when the coins were last moved.
The transfer alone does not confirm a sale, but such large movements from long-inactive addresses often precede profit-taking. Bitcoin was trading at $62,939.94 at the time, down 1.36% over the previous day.
The Spent Output Profit Ratio (SOPR) was near 1, suggesting that the market as a whole is only realizing small gains. This mirrors October 2018, when the same metric hovered near 1 during a bear market. However, the broader environment has shifted from a bear market in 2018 to a mature cycle in 2026, and early adopters still hold significant unrealized gains.
Supply distribution data from Santiment shows that wallets holding between 0.1 and 100 BTC steadily grew their balances between April and July 2026. The 1,000–10,000 BTC cohort also accumulated, indicating that institutions and large whales continue buying. In contrast, wallets with 100–1,000 BTC steadily decreased their holdings, while the 10,000–100,000 BTC cohort experienced abrupt balance changes that likely reflect custodial transfers rather than outright sales.
Bitcoin demonstrated resilience by rallying over 6% in late June and early July, remaining well above the $60,000 support level. This strength coincided with oil prices rising more than 5% toward the $75 resistance level after U.S. President Donald Trump withdrew from the Iran ceasefire. Historically, cryptocurrency market corrections have followed increases in oil prices, but Bitcoin’s ability to sustain its upward trajectory suggests the market is growing more resilient to macro-driven fear.
