Bitcoin Whale Moves $188M in Dormant 2,931 BTC After 7-Year Slumber on July 12

According to Lookonchain, a whale moved 2,931 BTC (worth $188 million) on July 12 after remaining dormant for seven years. The coins were originally acquired when Bitcoin traded near $6,513, valuing the holding at approximately $19 million at the time. With Bitcoin trading near $63,000 on Monday, the same coins are now valued at $188.03 million, representing a roughly tenfold gain across two full market cycles.

Meanwhile, a separate whale continued rotating out of Ethereum into Bitcoin. According to EmberCN, the trader swapped a cumulative 17,385 ETH (about $31 million) into 496.3 BTC at an ETH/BTC exchange rate around 0.0285. The rotation marks the whale's third major ETH-to-BTC conversion in 2026, with consistent execution during ratio strength.