The Bitcoin whale behind the recent 80,000 Bitcoin transfers sent about $2.4 billion in Bitcoin to a new wallet on Monday, according to on-chain data tracked by Lookonchain.

The Bitcoin OG who previously transferred 80,009 $BTC($9.68B) out after 14+ years of dormancy is moving $BTC again.

So far, he has transferred 20,009 $BTC($2.42B) from two of his wallets to a new wallet "bc1qmu".https://t.co/xHzc4TstQqhttps://t.co/5FjcAQxb89 pic.twitter.com/NgthaiG2Gl

— Lookonchain (@lookonchain) July 14, 2025

Although no Bitcoin has been sent to exchanges yet, the large transfer has reignited fears of looming selling pressure. With Bitcoin currently trading above $119,000, there’s speculation that the entity may be preparing to realize profits from long-held assets.

Still, there’s a possibility that the investor may be restructuring his storage setup.

As previously reported by Crypto Briefing, the Bitcoin whale resurfaced on July 4 after 14 years of inactivity and transferred 80,000 BTC across multiple transactions.

Bitcoin reached a new record high above $123,000 early today before retreating. The asset was trading at around $119,600 at the time of publication, per TradingView.