Bitcoin makes a splash as old miners return – But all’s not what it seems

Key takeaways

Bitcoin inflows to Binance surged, largely driven by a Satoshi-era miner. Long-term holders are taking profits as the market remains stable, but the spotlight is on what comes next.

Bitcoin [BTC] is making waves again, with a sharp shift in momentum. Since the 11th of July, Binance has seen $2.7 billion worth of BTC flow in; a clear reversal after months of steady outflows.

Interestingly, much of this surge seems tied to a Satoshi-era miner resurfacing.

At the same time, long-term holders are cashing out more aggressively than short-term traders, pointing to a cautious phase of redistribution in the market.

Binance becomes BTC’s main stage again!

After months of steady BTC withdrawals, Binance has flipped the script. Since the 11th of July — when Bitcoin hit new a new ATH — more than 23,000 BTC, worth around $2.7 billion, has flowed into the exchange.

The biggest spike came between the 14th and the 15th of July, possibly tied to a dormant miner wallet linked to the Satoshi era.

Source: CryptoQuant

These wallets have now moved over 80,000 BTC in recent weeks, reigniting market curiosity.

Despite the large volume, Bitcoin’s price has remained steady; proof of how resilient the market is and how integral Binance remains for major BTC transfers.