An early Bitcoin miner has reappeared after more than a decade of silence, stirring speculation across the crypto community just as analysts grow increasingly bullish on the market’s year-end prospects.
Blockchain trackers detected that a wallet created in 2009 – one of Bitcoin’s earliest – transferred 150 BTC, worth roughly $16 million, on Thursday. The address is believed to have mined more than 4,000 BTC during the network’s first few months and had been inactive for 14 years.
At today’s prices near $110,700, the wallet’s full stash would be valued at over $440 million, an almost surreal leap from the asset’s early days when the same holdings were worth less than $200.
2009 Wallet Activity Sparks Market Speculation
According to onchain data from Nansen and Mempool.space, the long-dormant address once held about 7,850 BTC, having consolidated funds in mid-2011 before falling silent. Some blockchain researchers, including Emmett Gallic, believe the same miner has quietly distributed coins from multiple wallets over the years, reducing their holdings to roughly 3,850 BTC.
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
While movements from “Satoshi-era” wallets often ignite fears of sell-offs, analysts view this one as routine reallocation. “Early holders shifting funds now is normal,” said one market observer. “Institutional inflows are easily absorbing these moves.”
Analysts Predict “Crypto Rally Into Year-End”
The reawakening comes at a moment of renewed optimism in the crypto space. Speaking to CNBC, Fundstrat’s Tom Lee said leverage across Bitcoin and Ethereum markets has been “completely wiped out,” adding that open interest is at historic lows – a setup he believes could trigger a crypto rally before the end of 2025.
BREAKING: ?? Tom Lee says leverage is wiped out from crypto, Bitcoin & ETH open interest is at historic lows and “ we gonna see a crypto rally into the end of the year ”
This guy holds $12.7B in $ETH for a reason pic.twitter.com/gElhszcvd9
— Ash Crypto (@Ashcryptoreal) October 24, 2025
“We’re going to see a strong move higher into year-end,” Lee said, emphasizing that reduced speculative leverage and renewed accumulation point to a healthier market foundation.
Lee, who reportedly holds over $12.7 billion in Ethereum, said the market has reached a phase of “renewed strength,” suggesting both Bitcoin and altcoins could benefit as traders rotate back into digital assets.
Bitcoin to $1 Million?
At the same time, crypto analyst Bitcoin Teddy reignited long-term bullish sentiment by sharing an updated Bitcoin Power Curve Cycle Cloud model that projects the asset’s price reaching $1 million before 2035.
#Bitcoin is going to $1,000,000 whether you like it or not ? pic.twitter.com/ciA5cJcVsB
— Bitcoin Teddy (@Bitcoin_Teddy) October 24, 2025
“Bitcoin is going to $1,000,000 whether you like it or not,” Teddy wrote on X, illustrating how Bitcoin’s cyclical structure has remained intact since 2013 – with each halving cycle marking a higher base of long-term growth.
A Maturing Market With Old Players Returning
Recent awakenings of old Bitcoin addresses – including another 80,000 BTC wallet that transferred funds to Galaxy Digital in July – show that some of crypto’s earliest adopters are re-engaging with the network. Yet, analysts say this doesn’t signal panic.
“The market today is much broader and deeper than in 2017 or 2021,” one analyst noted. “When old whales move, they’re often reorganizing – not dumping. Bitcoin’s liquidity and institutional demand are at record highs.”
With Bitcoin hovering near record territory and macro analysts eyeing potential Federal Reserve rate cuts in the coming months, the stage could be set for another powerful rally – perhaps even one that finally puts the “Satoshi-era” generation of coins back in circulation.
