Dormant Bitcoin Wallet Reactivated After 10.9 Years Amid Market Surge
Dormant Bitcoin Wallet Reactivated After 10.9 Years
A Bitcoin wallet that had been inactive since 2014 recently came back to life, moving 300 BTC worth approximately $29.4 million. This wallet, which had been dormant for 10.9 years, is part of a growing trend of old Bitcoin wallets being reactivated as the cryptocurrency's price reaches historic highs.
Ancient Whales Awakening Amid Market Rally
The reactivation of such "ancient whale" wallets has become more frequent in recent months, particularly as Bitcoin's price surged to a record high of $109,114 on January 20. This price peak coincided with the inauguration of a U.S. president known for his support of cryptocurrency, sparking speculation about the potential creation of a Strategic Bitcoin Reserve in the coming years.
Large BTC Movements Without Immediate Selling
Earlier this week, a staggering 14,000 BTC, which had been inactive for 7 to 10 years, was moved. However, on-chain data indicates that these funds were not transferred to any cryptocurrency exchange, suggesting that no immediate sale is planned. This pattern suggests that long-term holders are choosing to lock in profits without rushing to sell.
Bitcoin's Current Market Position
At the time of writing, Bitcoin is trading at $97,440, reflecting a 1.18% decline. Despite this short-term dip, the broader trend of old wallets reactivating highlights growing confidence in Bitcoin's long-term value, driven by institutional adoption and regulatory clarity.
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