Satoshi-Era Bitcoin Wallet Awakens After 14 Years as OI Reaches $63 Billion

A Satoshi Nakamoto-era Bitcoin whale wallet has moved money after more than 14 years of dormancy, as BTC options open interest (OI) reaches an all-time high of $63 billion.

Investors have yet to react to the whale’s awakening, with the Bitcoin price up more than 1% in the past 24 hours.

After the rise, BTC is trading at $111,001.95 at 4:24 a.m. EST. facts of CoinMarketCap shows.

Bitcoin Whale sends $16 million worth of BTC

Data from the on-chain tracking platform Nansen shows that the whale address sent 150 BTC, worth over $16 million, in a single transaction in the last 24 hours.

In the meantime, facts from the Bitcoin block explorer and analysis platform Memepool Space suggests that the whale in question once owned as much as 7,850 BTC. The address that conducted the transaction has also been inactive since June 2011. At the time, 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 2009.

A Satoshi-era wallet that mined 4,000 BTC between April and June 2009 – just months after Bitcoin’s launch – and consolidated it all into one wallet in June 2011 has just transferred 150 BTC after a 14.3-year dormancy.

In 2011 it was worth $67,724.

Now the same…

— MLM (@mlmabc) October 23, 2025

The whale’s 4,000 BTC was worth $67,724 in 2011. Today, that same Bitcoin is worth $442 million, according to MLM.

Meanwhile, another X user, Emmet Gallic, a self-employed blockchain analyst, said the whale once had 8,000 BTC in multiple wallets, and has gradually sold his holdings through another address.

Other Satoshi-era whales are on their way

This isn’t the first Satoshi-era wallet 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 inactive 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 holding more than 10,000 BTC have been steadily selling off their holdings since 2017.

Bitcoin OI rises

While whale transfers are normally seen as a precursor to selling activity, the Bitcoin derivatives markets suggest a new bullish wave is developing. According to GoinGlassBTC options OI rose to a record $63 billion, dominated by higher strike prices.

So does crypto options platform Deribit, which is now owned by Coinbase said on X that there has been an increase in OI at the strike price of $100,000. This suggests that bears are expecting a decline in the price of BTC.

However, there is much more OI at higher prices, including $120,000, $130,000 and $140,000, Deribit facts shows.

Bitcoin OI (source: Deribit)

When OI starts to focus on strike prices well above the current price, it indicates that traders are primarily betting on or hedging against a surge. The markets could therefore see this as a sign that traders expect the price of Bitcoin to reach higher levels.

Bitcoin is not immune to 50% crashes, says Tom Lee

The OI range between $100,000 and even $140,000 suggests that traders still view Bitcoin as a volatile asset.

Fundstrat CIO Tom Lee, also chairman of leading Ethereum treasury company BitMine, said in a recent interview with Anthony Pompliano that BTC is not immune to a 50% drop.

I sat down @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 is impacting investor sentiment.

Tom also shares his latest insights on Bitcoin, Ethereum, and why innovation in crypto markets… pic.twitter.com/5GSKz5V1X0

— Anthony Pompliano 🌪 (@APompliano) October 24, 2025

“The stock market tends to see declines of 25%,” even though it has “made a lot of progress over the past six years,” Lee said.

“So if the S&P falls 20 points, Bitcoin could fall 40 points,” he added.

He then said that Bitcoin has broken its four-year historical cycle, which would have led to a peak in October.

While Lee warns that the price of Bitcoin could still fall sharply, renowned crypto trader and analyst Michael van de Poppe told his more than 812.7k followers on X that the leading crypto could soar to a new all-time high (ATH) in November.

He said that if Bitcoin builds a strong base above $112,000, it could hit a new all-time high in November.

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