A long-time bitcoin holder who accumulated 5,000 BTC in 2013 sold another 1,000 BTC on Wednesday, worth about $71.6 million, as whale-driven exchange inflows remained elevated.
Whale sales resume
Onchain analytics firm EmberCN said the wallet had now transferred 3,500 BTC, valued at roughly $332 million, to Binance since it began selling in November 2024.
The whale reportedly bought bitcoin in 2013 at an average price of $332 and sold at an average of $94,786, locking in about $330 million in profit.
The wallet still holds around 1,500 BTC, worth about $106.8 million.
Separately, Lookonchain said early bitcoin investor Owen Gunden sold another 650 BTC, worth about $46.3 million, on Wednesday.
That sale followed earlier disposals totaling about 11,000 BTC, or more than $1 billion, according to Arkham data cited by Lookonchain.
Whale deposits dominate
The selling lines up with a broader rise in large-holder activity on exchanges.
According to CryptoQuant, the bitcoin exchange whale ratio reached 0.83 on March 14, meaning the top 10 BTC deposits made up 83% of all exchange inflows that day.
That was near the highest level since July 2024.
As of Thursday, the ratio stood at 0.66, showing whales were still responsible for most exchange deposits.
Price remains under pressure
Bitcoin fell 4.5% over the past 24 hours to about $70,813.
The move left the asset down more than 43% from its October 2025 all-time high near $124,700.
The renewed selling from older wallets adds to signs that dormant supply is being reactivated and distributed into the market.
