When panic selling floods the entire community, truly savvy funds have already quietly positioned themselves.

Bitcoin has once again fallen below a key support level, and the market is filled with anxiety. Retail investors are discussing whether it will drop to 80,000, but on-chain data tells a different story—someone is quietly picking up bargains.

A Bitcoin antique wallet that has been dormant for years was recently activated. This participant from the Satoshi era demonstrated what true bottom-fishing looks like through concrete actions. They invested over $15 million in spot Bitcoin, totaling 6,917 coins, which at the time of transaction is equivalent to a volume of $632 million.

The most interesting part is the trading strategy. This veteran did not go all-in at once but built positions gradually—initially placing a large order of $10.14 million, followed by additional purchases of around $5 million. This rhythm clearly indicates they came prepared.

01 Why the activity of whales is important

In the crypto market, the actions of whales often represent the attitude of large funds. Especially those seasoned players who have held coins for over ten years—they have experienced the lows of 2010 and endured countless cycles of bull and bear markets. Their judgment is often quite accurate.

Unlike ordinary retail investors who are easily scared off by short-term fluctuations, this group of Satoshi-era participants usually mean they see signals that the market may be bottoming out when they start buying. Historical data supports this judgment—whenever these ancient whales become active, it often indicates that a phase bottom is approaching.

02 The investment logic of seasoned players

Why pay special attention to these kinds of operations from the early days of Bitcoin? Because these people’s market intuition often surpasses the current moment. They don’t chase hype or follow trends; they act based on long-term value logic. What confidence is behind a one-time investment of over $15 million in Bitcoin? It’s a recognition of Bitcoin’s long-term value and a judgment that the current market is overly pessimisticly priced.