TL;DR
- Bitcoin wallets dormant since 2009 moved 250 BTC.
- Bitcoin price hovers around $63,500 after breaking above $64,000.
- The wallets did not transfer the funds to exchanges.
Several Bitcoin wallets, inactive since 2009, known as the “Satoshi era“, have reactivated their activity by moving a total of 250 BTC, equivalent to more than 15 million dollars.
These wallets belong to early Bitcoin miners, who received rewards for their work during the early days of the cryptocurrency.
💤 A dormant address containing 50 #BTC (3,182,908 USD) has just been activated after 15.6 years!https://t.co/rVRMOiMAfP
— Whale Alert (@whale_alert) September 20, 2024
On this occasion, five wallets made transfers of 50 BTC each to new addresses, although none of them have sent the funds to exchange platforms, suggesting that, at least for now, the owners have no intention of selling.
The on-chain transaction tracker, Whale Alert, was responsible for monitoring and reporting these movements on September 20, 2024.
Transactions from such old wallets, which have remained inactive for more than 15 years, always generate great interest in the crypto community, since such wallets are associated with the early days of Bitcoin, when its creator, Satoshi Nakamoto, was actively involved in the network.
This type of event is not entirely unusual.
In March 2024, a wallet that had been dormant for over 12 years moved 500 BTC, while in April 2023 another wallet dormant for over a decade also made significant moves.
However, it is difficult to predict whether these events have a direct impact on the price of the cryptocurrency or whether it is simply a reshuffling of funds.
Bitcoin and its recent trend
The reactivation of these wallets has coincided with a surge in the price of Bitcoin (BTC), which recently surpassed $64,000, following a major drop to less than $50,000 in August 2024.
This rally in BTC value has been driven by the recent interest rate cut by the US Federal Reserve, which has generated a positive reaction in financial markets.
At the time of writing, Bitcoin is trading around $63,500.
Despite the recent optimism, some analysts, such as Ali Martinez, suggest that many traders may be looking to take profits at these levels, given that volatility in the cryptocurrency market remains high.
The recovery of the Bitcoin price is not only influenced by macroeconomic movements, but also by the speculation surrounding these unusual transactions of large amounts of BTC from historical wallets.
Although the funds have not yet been moved to exchanges, the market will be watching to see if these movements generate more volatility in the near future.
