Whale Alert: Revelation of Dormant Bitcoin Wallets Transferring 1,000 BTC After 10 Years

Sunday, 12 May 2024, 13:42
Bitcoin long-term holders activated two dormant wallets, moving 1,000 BTC valued at $60 million after 10.7 years of inactivity. The sudden movement raises speculations on potential market impact as history shows correlation between dormant whale activity and BTC price trends. Analysis suggests a possible rally to $72,000 amid contrasting opinions on altcoins and Bitcoin's future performance.
https://store.livarava.com/863cd271-1067-11ef-a6c2-63e1980711b2.jpg
Whale Alert: Revelation of Dormant Bitcoin Wallets Transferring 1,000 BTC After 10 Years

Whale Alert: 10-Year Inactive Bitcoin Wallets Move 1,000 BTC

Bitcoin long-term holders suddenly activated two dormant wallets on May 12, moving 1,000 BTC worth over $60 million. Two dormant addresses moving 500 BTC each. Notably, the short interval between receiving and spending suggests both wallets may belong to the same entity.

Bitcoin dormant whales activity and BTC price analysis

Increased dormant whale activity often correlates with BTC price top formation. Current data indicates significantly low 5-year dormant whale activity. Technical analysis and on-chain metrics predict potential Bitcoin rally to $72,000 with cautious market sentiments and contrasting views on altcoin performance.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

Related posts

Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe