A Bitcoin wallet that had been dormant for 10.8 years recently moved 24 BTC, marking a significant gain.
Data from Whale Alert reveals that a Bitcoin wallet, untouched since November 2013, has been activated. The 24 BTC in the wallet, initially valued at around $10,915, is now worth approximately $1.46 million—a gain of 13,245%.
The reason for this sudden move is unclear, but it may indicate the holder is cashing out after a lengthy period of inactivity. Despite the large gain, this amount is small relative to the overall Bitcoin market.
Additionally, analyst Checkmate noted that 80% of Bitcoin held by short-term investors (those who bought within the last 155 days) are currently at a loss.
This could lead to potential sell-offs, but these losses represent only about 4% of Bitcoin’s total market cap.
Many countries around the globe are beginning to show interest in crypto and Bitcoin-related investment products.
Bitcoin (BTC) gained steam yet again and it surged above $64,000 after a notable 1.75% price increase in the past hour and 3% in the past 24 hours.
A popular quantitative analyst known as “PlanB” suggests that large crypto investors, or whales, are currently holding back from making significant moves as they await the outcome of a key upcoming event.
The cryptocurrency landscape, particularly Bitcoin, tends to respond to significant economic indicators from the U.S. as traders adapt their strategies to align with macroeconomic trends.