A major on-chain movement has attracted attention. A wallet that has not made any transactions since 2011 suddenly made a move, sweeping in 8,145 Bitcoins at a price of $87,868, totaling $713 million.

This situation is quite rare. Why are long-term holders who have been dormant for over a decade only now taking action? Industry insiders often view such whale entries as a barometer of market sentiment—what does the awakening of big players usually imply? Either they see an opportunity or they sense a bottom signal.

From an on-chain perspective, the activity of these ultra-long-term holders is indeed intriguing. Large inflows of BTC into exchanges or long-term wallets often reflect the genuine judgment of different participants about the future market. Especially in the current phase of high Bitcoin volatility, who is increasing their positions and who is observing can reveal clues about the market’s next move.