A Bitcoin wallet dormant for over 12 years has reawakened, executing a calculated sell-off of approximately $300 million worth of BTC, injecting significant supply into the market as prices hover near the key $100,000 resistance level.
The wallet, identified as the "5K BTC OG," originally received 5,000 BTC in 2012 when Bitcoin traded around $332, giving the initial holdings a value of roughly $1.66 million. According to data from Lookonchain and Arkham Intelligence, the selling activity began on December 4, 2024. Since then, the entity has sold 2,500 BTC through a series of structured transactions, generating approximately $265 million at an average exit price of $106,164 per BTC.
The selling strategy was notably controlled and deliberate. Transactions were broken into batches of 250 to 500 BTC per deposit and spread across at least 10 separate transfers to exchanges over a five-month period. This phased approach was likely designed to tap deep liquidity pools efficiently while minimizing market disruption and avoiding sharp price crashes.
On January 18, 2026, the whale transferred another 500 BTC to Binance, valued at an estimated $47.77 million, marking the latest move in this ongoing distribution. Despite these substantial sales, the wallet still holds a remaining balance of 2,500 BTC, worth approximately $237.5 million at current prices. The total unrealized gain on the original investment now exceeds $500 million.
Market participants are closely monitoring the wallet's activity, as large legacy holders can influence market sentiment beyond their direct volume impact. The news arrives amid heightened geopolitical tension between the US and Iran, adding another layer of uncertainty to market conditions. Traders remain on edge, watching to see if the remaining 2,500 BTC will be sold, representing a significant source of potential future supply pressure.
