Dormant Bitcoin whale burns over $8M in BTC as price touches $75K

Blockchain security firm AMLBot also tracked the transactions and said the Bitcoin was sent across five separate transfers. The company noted that the coins may have ties to the collapsed crypto exchange Mt. Gox, though it did not identify the entity behind the movement.

A burn address is a wallet with no known private key, meaning any cryptocurrency sent to it becomes permanently inaccessible. The process removes coins from circulation and is sometimes used by projects attempting to reduce token supply, though Bitcoin burns of this size remain uncommon.

At the same time, on-chain records reviewed by AMLBot showed the transactions were configured with a locktime parameter tied to block 950,958. The sender also paid transaction fees above the normal network rate to ensure the transfers were processed and confirmed within the targeted block.

Meanwhile, the burn address itself has accumulated more than 807 BTC over time. Most prior deposits were much smaller and often used for blockchain recordkeeping or symbolic transfers rather than large-scale destruction of assets.

Bitcoin trades below key long-term resistance levels

While the whale activity drew attention across the crypto market, Bitcoin continued trading below several major technical resistance levels.

According to data from crypto.news, Bitcoin (BTC) price was trading near $75,967 at press time after briefly touching the $76,000 area during intraday trading on Wednesday. The bellwether remains almost 40% below its all-time high of $126,080 reached in October 2025.

On the daily chart, Bitcoin had slipped back below an ascending trendline support after failing to sustain a recent breakout attempt. BTC is also trading beneath the 200-day moving average near $80,170, while the 50-day moving average around $77,171 continues capping short-term upside attempts.

At the same time, the gap between the two major moving averages has narrowed considerably in recent weeks. The 50-day moving average is now approaching the 200-day moving average, putting traders on watch for a potential golden cross formation if bullish momentum returns.

In technical analysis, a golden cross occurs when the shorter-term moving average rises above the longer-term average and is often associated with stronger upside continuation.

Since late March, Bitcoin has rallied from the $63,000 region before running into resistance near $83,000 earlier this month. Recent trading sessions have produced lower highs on the daily chart, while the $75,000 support area continues facing repeated retests.

Meanwhile, momentum indicators still showed bearish pressure dominating the short-term structure. The Aroon indicator displayed a wide separation between bullish and bearish strength, with Aroon Down holding above 70 while Aroon Up stayed near 7.

Whale transfer adds to unusual Bitcoin supply activity

Large dormant-wallet movements have continued drawing attention because many older Bitcoin addresses are linked to early miners, long-term holders, or defunct trading platforms.

As reported earlier by crypto.news, a separate Satoshi-era Bitcoin whale transferred 2,650 BTC, worth more than $200 million, to crypto trading firms FalconX and Cumberland earlier this week.

The wallet still held nearly 6,000 BTC worth around $462 million after the transfers at that time. Although the transactions did not confirm an immediate sale, large movements tied to early Bitcoin holders often attract close market scrutiny because traders watch for signs of additional supply entering exchanges.

Against that backdrop, the latest 107 BTC burn has added another unusual twist to dormant whale activity. Unlike exchange inflows, however, the Bitcoin sent to the burn address has effectively been removed from circulation permanently unless access to the wallet somehow exists, which blockchain analysts generally consider impossible.

Neither Lookonchain nor AMLBot reported any follow-up transfers linked to the wallets after the burn transactions were completed.