Bitcoin Whales Woke Up in 2025 and Moved Billions in BTC—Here's Why

Core Insights - The year 2025 marked significant activity among Bitcoin whales, with long-term holders beginning to sell their holdings as Bitcoin reached the $100,000 milestone for the first time in December 2024 [1][3] - This phenomenon has been termed the "great redistribution," where Bitcoin held by long-term holders has been transferred to new owners in multiple waves [2] Group 1: Whale Activity - Whales began shifting coins after Bitcoin hit the $100,000 mark, motivated by the desire to realize gains after holding for over a decade [3] - The first wave of selling occurred at the end of 2024 and the beginning of 2025, with subsequent waves in July and November 2025 [4] - A notable event involved a mysterious whale moving 80,000 BTC after holding for 14 years, coinciding with a price of nearly $108,000 [6] Group 2: Market Dynamics - The selling activity from whales contributed to declining prices, as they shifted coins during periods of high demand from ETFs, which balanced supply and demand [4] - The rise of digital asset treasuries has also influenced whale activity, as companies began stockpiling Bitcoin to combat inflation and enhance stock prices [5] - The demand for contributions to newly formed digital asset treasuries has prompted some whales to reactivate their holdings [5]