According to the network, transactions were conducted from wallets dating back to 2013 and even 2010.

Most of the movements came from OG "whales", including the infamous hacked wallets and former exchanges. One of the largest transfers was 80,000 BTC after 14 years of storage from a hitherto unknown major investor. More recently, the "whale" of the Satoshi mining era sold some more of its remaining coins. Up to 8000 BTC were stored in his addresses, and after sending 150 BTC to the exchanges, there were 3,850 left.

In 2025, the BTC market was stable enough to handle whale sales. However, periodic short-term sales of large volumes of BTC led to lower prices. Some sellers combine spot trading with derivatives positions, trying to put pressure on the price of cryptocurrencies and simultaneously open short positions.

Some of the displaced coins ended up on exchanges, but in 2025 there are more ways to benefit from BTC. Large investors turned out to own impressive assets, and some of them continued to support treasury companies. For others, lending has become a way to benefit from BTC without directly selling it.

Despite such impressive transactions, more than 50% of the total bitcoin supply is still stored in private addresses.