Bitcoin price has moved back above $71,000 even as the Winklevoss twins sent $130 million in BTC to Gemini. The transfer drew market attention after Arkham said the move was “presumably to sell.”
The latest wallet activity came as Bitcoin recovered from recent weakness and found support near $70,000. At the same time, ETF inflows and fresh corporate buying helped the asset regain momentum.
Winklevoss Transfer Draws Attention as Profit Estimate Climbs
Cameron and Tyler Winklevoss transferred $130 million in Bitcoin to Gemini hot wallets over the past week. Arkham said the move was “presumably to sell,” though no public statement confirmed that intention.
Arkham also estimated the twins’ Bitcoin profit at about $1.8 billion. Even after the transfers, the brothers still held about $764 million in Bitcoin.
Their Bitcoin story dates back to April 2013. At that time, they bought $11 million worth of Bitcoin at about $120 per coin.
That purchase was funded through proceeds from a $65 million settlement tied to their legal dispute with Mark Zuckerberg. Their holdings later grew sharply as Bitcoin entered its major bull cycles.
Reports in 2017 said the brothers sold part of their Bitcoin to launch Gemini. The exchange later raised $425 million in its September 2025 initial public offering.
Bitcoin Price Rises as Institutional Demand Stays Firm
Despite the Gemini wallet movement, Bitcoin reclaimed the $71,000 level on Tuesday. The recovery followed four straight sessions of losses linked to a stronger U.S. dollar and geopolitical pressure.
The market also reacted to stronger institutional demand. SoSoValue data showed spot Bitcoin ETFs recorded $167.03 million in inflows on Monday. That marked a second straight week of inflows. Continued demand from those funds supported Bitcoin’s rebound during the latest trading session.
Corporate buying also remained active. Michael Saylor’s Strategy as we reported, purchased another 17,994 BTC on Monday after adding 3,015 BTC the previous week. That lifted Strategy’s total holdings to 738,731 BTC. The company’s average purchase price now stands at $75,862, above current market levels.
The Bitcoin network also passed the 20 million BTC mined milestone. Fewer than 1 million coins remain to be issued over the next 114 years.
Macro Sentiment and State Wallet Activity Add to Market Focus
Bitcoin also found support from improving sentiment around global risk. President Donald Trump and the Iranian government said the war with Iran could end “very soon,” which helped calm part of the market.
Oil prices had surged earlier in the week, with WTI reaching $113.28 during Monday’s Asian session. Later, lower oil prices improved risk appetite and supported crypto prices. Other notable Bitcoin wallet movements also added to the day’s market focus. Bhutan transferred 175 BTC, worth $11.85 million, in its largest move since last month.
Arkham data showed Bhutan has moved about $42.5 million in Bitcoin so far in 2026, also with the potential intention to sell. However, as reported, the government still holds around 5,400 BTC, valued at $374 million.
Concurrently, in another sell-off momentum in South Korea, the Gwangju Prosecutors’ Office has sold 320 Bitcoins seized from a gambling platform raid. The assets had been returned after a phishing-related loss last year.
Gemini changes and market recovery stay in view
Gemini has also been adjusting its business structure in recent months. The company said it would leave the UK, EU, and Australian markets and cut about 25% of its workforce.
The exchange said it was shifting toward a leaner and more automated operating model. Those changes came after its 2025 public offering.
Even so, the main market focus remained on Bitcoin’s recovery. The price has moved above $71,000 as large transfers, ETF inflows, and corporate accumulation shaped trading conditions.
Source: https://coinpaper.com/15316/bitcoin-climbs-back-above-71-k-as-130-m-btc-transfer-hits-gemini-wallets
