The recent large transfer of Bitcoin from the Coinbase platform has triggered extensive discussions among traders and analysts. This transfer might indicate significant accumulation or long-term storage by major cryptocurrency holders.
Whale Activity in the Bitcoin Market
On July 18, 2025, blockchain service Whale Alert recorded the transfer of 7,743 BTC from Coinbase to a new wallet, amounting to approximately $916.25 million. At the time of the transfer, Bitcoin was trading at $118,329.11. This substantial transaction may suggest institutional accumulation.
Moving of an Ancient Whale
Interestingly, the recent transactions are also linked to the resurgence of an ancient whale that had been dormant for 14 years. According to Lookonchain, this holder moved billions of dollars' worth of BTC within just hours, executing transfers to unknown wallets, causing serious ripple effects in the market.
Market Response and Potential Price Correction
This wave of whale activity coincided with heightened concerns over a potential price correction of Bitcoin. Earlier in the week, the price of Bitcoin briefly dipped below $117,000. The market responded swiftly to these sell signals, leading to sharp price fluctuations as Bitcoin reached an intraday low of $116,218.
The recent activity in the Bitcoin market underscores the importance of monitoring significant transactions, indicating both strategies for accumulation and potential price volatility.
