10 years of inactive Bitcoin wallets moved 1,000 BTC

Long-term Bitcoin (BTC) holders suddenly activated two dormant wallets on May 12 and moved 1,000 BTC worth over $60 million. These whale addresses remained inactive for 10.7 years since September 2013, when this supply was worth $125,000.

especially the Whale alert Account on X records every transaction every 20 minutes. According to the alerts, these holdings were worth $62,890 and $63,565, respectively, when the addresses first purchased them.

In this sense the Lookon chain The account also reported dormant whale activity, noting that one address acquired 500 BTC on September 13, 2013 and the other on September 14, 2013.

The short period of time between receipt and subsequent issuance suggests that both 10-year Bitcoin wallets belong to the same company. This recent activity could mean that it is a matter of simple wallet management or that this whale has the intention of selling the 1,000 BTC.

Dormant Bitcoin whale activity and BTC price analysis

Interestingly, Finbold retrieved data from Santiment This shows that increased activity from dormant whales usually correlates with the formation of the BTC price high. The chart shows that most of the peaks in this metric were close to a trend reversal, typically bearish.

However, despite the two recent events, there is currently significantly low dormant whale activity on the Bitcoin network for five years.

As of this writing, Bitcoin is trading at $61,000, and only 1,056 BTC have moved within this category, rather than over 10,000 units during the top formations. Additionally, technical analysis, derivatives liquidations, and on-chain metrics suggest that Bitcoin could soon rise to $72,000, a gain of over 18%.

Conversely, analysts warned of an impending BTC crash, while others are optimistic that the altcoin season may rise.

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