Bitcoin’s (BTC) on-chain metrics are signaling a notable shift in behavior among long-term whales, with average dormancy climbing to its highest level in a month in early October 2025.
Market signals are flashing early warnings of potential selling pressure as some investors appear ready to take profits.
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Old Bitcoin Wallets Wake Up With Massive Transfers
According to the latest data from CryptoQuant, average dormancy has risen sharply recently. The metric shows how long Bitcoins were held before they were moved.
When this number rises, it means that long-term holders are moving or selling their coins. This, in turn, can signal possible selling pressure or a price drop ahead.
In addition, the Coin Days Destroyed (CDD) metric has also exhibited a significant spike, reflecting potential profit-taking by veteran investors at elevated price levels. This spike in dormancy and CDD has been confirmed by actual large-scale movements of coins.
On-chain analysis from Maartunn highlighted a substantial transfer of 32,322 BTC, valued at approximately $3.93 billion, from wallets inactive for three to five years.
“This is the largest 3y – 5y Bitcoin movement of 2025 so far,” the post read.
Similarly, Lookonchain reported that an old BTC wallet that had been dormant for 12 years had transferred 100 coins worth around $12.5 million to two new addresses. The wallet originally acquired 691 BTC when the price was just $132, but it is now worth $86 million.
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Furthermore, OnChain Lens noted that a Bitcoin whale deposited 3,000 BTC, valued at around $363.9 million, in the Hyperliquid exchange. The investor converted 960.57 BTC to $116 million in USDC. The wallet still holds 46,765 BTC valued at $5.7 billion.
“For those who are unaware, last time this whale started selling, $BTC dropped nearly $9,000,” analyst Ted Pillows added.
All these activities suggest possible profit realization by early adopters. The uptick in activity comes as the flagship cryptocurrency undergoes a correction after briefly touching a new all-time high earlier this week.
BeInCrypto Markets data showed that BTC has dipped 2.38% over the past 24 hours. At the time of writing, it traded at $121,384.
Despite these signs of distribution, experts remain optimistic about BTC’s prospects.
“The BTC rally appears to be more than a speculative spike. Though profit-taking might create short-term pauses, the underlying structural drivers and market dynamics are converging and aligning well,” Farzam Ehsani, CEO & Co-founder of VALR, told BeInCrypto.
Ehsani projected Bitcoin to test $130,000-$135,000 in Q4 2025 and potentially reach $140,000 by Q1 2026, barring major headwinds. However, he cautioned that fresh macroeconomic or geopolitical turbulence could temporarily stall the rally and push Bitcoin back toward $120,000 or even $117,000.
Still, strong dip-buying interest at those levels could provide solid support if current market confidence holds.
