Two long-dormant Bitcoin wallets—silent for over six years—suddenly moved 4,000 BTC each (totaling 8,000 BTC, worth $860M) into a Coinbase Prime custody wallet.
While such large movements often trigger fears of a market dump, analysts believe this was likely an over-the-counter (OTC) deal—not a sell-off.
Key Details Behind the Move
🔍 Origin: Wallets linked to Xapo Bank, acquired by Coinbase in 2019
🔍 Not ETF-Related: Pattern differs from BlackRock/ETF flows
🔍 Likely Scenario: Private acquisition by a corporation or whale
Why This Matters
✅ No Market Panic: BTC price held steady near $108K
✅ Bigger Trend: Part of 80K BTC moved from dormant wallets last Friday (3rd-largest such event ever)
✅ Bullish Signal: Suggests strong accumulation beneath the surface
What’s Next for Bitcoin?
With institutional interest growing and dormant coins awakening, the market remains resilient. If this was indeed an OTC purchase, it reinforces long-term confidence in BTC—even at near-all-time-high prices.
