One of the early Bitcoin holders, who first bought 444.81 BTC back in 2012 at around $12 per coin, unexpectedly transferred 137.03 BTC — nearly $16 million at today’s rate. The total value of his assets is estimated at about $50 million.

“When a wallet comes alive after 13 years — it’s never random,” noted Doug Colkitt, co-founder of Fogo and CEO of Crocodile Labs. According to him, early whales move coins only when they see a serious opportunity or risk.

Some experts link such awakenings to the growth of digital treasuries. Jeff Dorman, CIO of Arca, believes long-term investors may be asked to contribute to new funds actively buying Bitcoin and altcoins.

Such moves often spark anxiety in the market. Traders begin to expect selling pressure, even if the coins never reach exchanges. “The very fact of a transfer spooks the market, although most of these transactions don’t end up as sales,” Colkitt said.

At the moment, Bitcoin is trading around $115,000, below the all-time high of $124,000 reached a month ago. Despite this, market participants remain optimistic: nearly three-quarters of respondents on the Myriad platform expect BTC to stay above $105,000 in September.