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A Bitcoin whale wallet from the Satoshi Nakamoto era has moved funds after over 14 years of dormancy as BTC options open interest (OI) reaches a record high of $63 billion.
Investors have yet to react to the whale’s awakening, with the Bitcoin price recording a more than 1% gain in the past 24 hours.
Following the uptick, BTC trades at $111,001.95 as of 4:24 a.m. EST, data from CoinMarketCap shows.
Bitcoin Whale Sends $16 Million In BTC
Data from the on-chain tracking platform Nansen shows that the whale address sent 150 BTC, worth more than $16 million, in a single transaction in the past 24 hours.
Meanwhile, data from the Bitcoin block explorer and analytics platform Memepool Space suggests the whale in question once held as much as 7,850 BTC. The address that made the transaction has also been inactive since June 2011. Back then, the whale had consolidated 4,000 BTC into one wallet.
According to the X account “MLM,” the whale earned the 4,000 BTC through mining between April and June of 2009.
A Satoshi-era wallet that mined 4,000 BTC between April and June 2009 – just months after Bitcoin’s launch – and consolidated everything into one wallet in June 2011, has just transferred out 150 BTC after 14.3 years of dormancy.
It was worth $67,724 back in 2011.
Now that same…
— MLM (@mlmabc) October 23, 2025
The whale’s 4,000 BTC was worth $67,724 back in 2011. Today, that same Bitcoin is worth $442 million, according to MLM.
Meanwhile, another X user, Emmet Gallic, who is a self-employed blockchain analyst, said the whale once held 8,000 BTC across multiple wallets, and has been gradually selling off its holdings through another address.
Other Satoshi-Era Whales On The Move
This is not the first wallet from the Satoshi era to move some of its holdings this year. In July, another wallet with 80,201 BTC started moving its coins to Galaxy Digital. It had also been dormant for 14 years, and made its final transfer on July 16.
Both transfers are part of a trend observed by crypto analyst Willy Woo, who said in June that whales with more than 10,000 BTC have been steadily selling their holdings since 2017.
Bitcoin OI Soars
While transfers by whales are normally seen as a precursor to sell activity, Bitcoin derivatives markets suggest that a new bullish wave is building. According to GoinGlass, BTC options OI soared to a record $63 billion, and has been dominated by higher strike prices.
Crypto options platform Deribit, which is now owned by Coinbase, also said on X that there has been an increase in OI at the $100,000 strike price. This suggests that bears anticipate a drop in BTC’s price.
However, there is much more OI at higher prices, including at $120,000, $130,000, and $140,000, Deribit data shows.
Bitcoin OI (Source: Deribit)
When OI begins to concentrate at strike prices that are well above the current price, it suggests that traders are mainly betting on or hedging for strong upside. The markets might therefore see this as a sign that traders expect Bitcoin’s price to reach higher levels.
Bitcoin Not Immune To 50% Crashes, Says Tom Lee
The OI range between $100,000 and as high as $140,000 suggests that traders still see Bitcoin as a volatile asset.
Fundstrat CIO Tom Lee, who also chairs leading Ethereum treasury firm BitMine, said in a recent interview with Anthony Pompliano that BTC is not immune to 50% drawdowns.
I sat down with @fundstrat to discuss whether AI is a bubble, why this may be the most hated stock market rally in history, and how misleading economic data shapes investor sentiment.
Tom also shares his latest views on Bitcoin, Ethereum, and why innovation in crypto markets is… pic.twitter.com/5GSKz5V1X0
— Anthony Pompliano 🌪 (@APompliano) October 24, 2025
“The stock market has more frequent 25% drawdowns“ even though it has “made a lot of progress over the last six years,” Lee said.
“So if the S&P is down 20, Bitcoin could be down 40,” he added.
He then went on to say that Bitcoin has broken out of its historical four-year cycle, which would have led to a peak this October.
While Lee warns that Bitcoin’s price could still suffer a steep drop, renowned crypto trader and analyst Michael van de Poppe told his more than 812.7K followers on X that the leading crypto might soar to a new all-time high (ATH) in November.
He said that if Bitcoin builds a strong foundation above $112K, it could go on to reach a new record price in November.
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