According to @lookonchain, eight Bitcoin (BTC) wallets that had been dormant since 2011 have moved a total of 80,000 BTC, valued at over $8.5 billion. These massive transfers have prompted significant market analysis, especially as the coins were acquired when BTC was priced around 78 cents. A key detail flagged by Coinbase director Conor Grogan is a preceding transaction of over 10,000 Bitcoin Cash (BCH), worth nearly $5 million, from a wallet tied to the BTC cluster. Grogan suggests this BCH move may have been a covert test to verify access to the legacy private keys without triggering major BTC whale alerts. The theory is supported by the fact that only one associated BCH wallet was used, implying the actor might have limited access. While the BTC has been moved to new SegWit addresses and not yet to exchanges, the event raises questions about potential sell pressure and the security of old P2PK addresses against threats like private key leaks or quantum computing attacks.