Bitcoin saw a gentle selloff on July 4th. This is because chain data revealed a significant change in the trend of rare movements from the whale wallet and whale accumulation over time.
The flagship cryptocurrency briefly touched on $110,000 before retreating to about $107,600 by noon. Among the unusually high on-chain activity from early Bitcoin holders, an intraday decline (2%) is received in weakening whale indicators.
Whale accumulation tendency is negative
Cryptoquant’s on-chain metrics reveal deeper structural changes. The 30-day percentage change in whale’s total stocks has been transformed negative for the first time in six months.
Whale Holdings The increase steadily increased from 3.28 million BTC in January to a peak of 3.55 million BTC in June. This accumulation stage helped support Bitcoin Price recovery through Q1 and Q2.
However, this upward trend is now reversing. A decline in net whale holdings indicates the onset of the distribution phase when large holders begin offloading or redistribution of capital.
Historically, this negative change in metric has been consistent with short-to-medium-term revisions. Institutions and long-term holders often reduce exposure and prepare for liquidity events.
When many of these dormant coins start moving or sell pressure mounts, you may see a short-term retest of your support zone near $105,000.
Dormant Bitcoin Zilla wakes up in 14 years
Seven dormant Bitcoin wallets dating back to April and May 2011 have transferred 70,000 BTC, totaling 70,000 BTC worth 7.6 billion in the last 24 hours.
Blockchain data indicates that these addresses have been inactive for more than 14 years. At the time of receipt, BTC was below $4.
Today, the same holdings are worth billions.
The coordinated nature of these movements suggests that they belong to a single entity. Probably early miners or institutional managers.
Today, at least 12 transactions have been recorded, each moving 10,000 btc, and analysts flagged it as a result of whale clusters labeled “July 4th BTC whale.”
These funds were sent to a fresh address, but no exchange deposits have been confirmed yet.
Meanwhile, one transaction dates back to the integration of 180 blocks of reward (50 BTC) into a single output of 9,000 BTC.
These rewards were acquired during Bitcoin’s first reward era, indicating that the coin came from an early solo mining operation.
The timing of the US Independence Day is also attracting attention. Some analysts interpret the iconic date as intentionally reflecting past instances in which whale activities are aligned to match major calendar events.
The coins transferred have not yet been sold, but the market often responds preemptively to such movements.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
