Bitcoin

when

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 <p class="paragraph">Bitcoin (BTC) long-term holders suddenly activated two dormant <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a>s on May 12, moving 1,000 BTC worth over $60 million. These whale addresses remained <a rel="noopener noreferrer nofollow" title="inactive" href="https://thebittimes.com/tag/inactive.html">inactive</a> for 10.7 years since September 2013, when this stash was valued at $125,000.</p>
 <p class="paragraph">Notably, the <em>Whale Alert</em> account on X posted each transaction with an interval of 20 minutes. According to the <a rel="noopener noreferrer nofollow" title="alert" href="https://thebittimes.com/tag/alert.html">alert</a>s, these holdings were valued at $62,890 and $63,565 when the addresses first acquired them.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="972" height="526" src="https://cdn.thebittimes.com/images/2024/05/12/f2823388b6cdb8652b967a58ebe96b20.webp" alt class="wp-image-175468" srcset="https://cdn.thebittimes.com/images/2024/05/12/f2823388b6cdb8652b967a58ebe96b20.webp 972w, https://cdn.thebittimes.com/images/2024/05/12/f2823388b6cdb8652b967a58ebe96b20.webp 300w, https://cdn.thebittimes.com/images/2024/05/12/f2823388b6cdb8652b967a58ebe96b20.webp 768w" sizes="(max-width: 972px) 100vw, 972px">
  <figcaption class="wp-element-caption">
   Two dormant addresses moving 500 BTC each. Source: <em>Whale Alert</em> on X
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 <p class="paragraph">On that note, the <em>Lookonchain</em> account also reported the dormant whales’ activity, identifying that one address acquired 500 BTC on September 13, 2013, and the other on September 14, 2013.</p>
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    <p lang="en" dir="ltr">2 <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a>s that have been dormant for 10.7 years transferred all 1,000 $BTC($60.9M) out in the past 20 mins.<br><br>Wallet"16vRqA" received 500 $BTC($62K at that time) on Sept 13, 2013, when the price was $124.<br><br>Wallet"1DUJuH" received 500 $BTC($62K at that time) on Sept 12, 2013, when… pic.twitter.com/l5ivjrcRt5</p>— Lookonchain (@lookonchain) May 12, 2024
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 <p class="paragraph">The short interval between each receiving and, later, spending suggests that both 10-year Bitcoin wallets belong to the same entity. This recent activity could mean simple wallet management or that this whale intends to sell the 1,000 BTC.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-dormant-whales-activity-and-btc-price-analysis">Bitcoin dormant whales activity and BTC price analysis</h2>
 <p class="paragraph">Interestingly, Finbold retrieved data from <em>Santiment</em> showing that increased dormant whale activity usually correlates to BTC’s price top formation. The chart shows that most spikes on this metric were close to a trend reversal, typically bearish.</p>
 <p class="paragraph">However, despite the recent two, there is currently significantly low 5-year dormant whale activity in the Bitcoin network.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="347" src="https://cdn.thebittimes.com/images/2024/05/12/2dc2912d52e613891f6103694d17a0f4.webp" alt class="wp-image-175469" srcset="https://cdn.thebittimes.com/images/2024/05/12/2dc2912d52e613891f6103694d17a0f4.webp 1024w, https://cdn.thebittimes.com/images/2024/05/12/2dc2912d52e613891f6103694d17a0f4.webp 300w, https://cdn.thebittimes.com/images/2024/05/12/2dc2912d52e613891f6103694d17a0f4.webp 768w, https://cdn.thebittimes.com/images/2024/05/12/2dc2912d52e613891f6103694d17a0f4.webp 1536w, https://cdn.thebittimes.com/images/2024/05/12/2dc2912d52e613891f6103694d17a0f4.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   BTC: Price vs. Dormant Circulation (5y). Source: <em>Santiment’s SanBase Pro</em> (Vini Barbosa)
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 <p class="paragraph">As of this writing, Bitcoin trades at $61,000, and only 1,056 BTC have been <a rel="noopener noreferrer nofollow" title="moved" href="https://thebittimes.com/tag/moved.html">moved</a> within this category instead of over 10,000 units during top formations. Moreover, technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a>, derivatives liquidations, and on-chain metrics suggest Bitcoin could soon rally to $72,000, for over 18% gains.</p>
 <p class="paragraph">Conversely, analysts warned of an imminent BTC meltdown, while others are optimistic about an altcoin season potentially surging.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/whale-alert-10-year-inactive-bitcoin-wallets-moved-1-000-btc-tbt88124.html">https://thebittimes.com/whale-alert-10-year-inactive-bitcoin-wallets-moved-1-000-btc-tbt88124.html</a></p>

Whale alert: 10-year inactive Bitcoin wallets moved 1,000 BTC

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