A long-inactive Bitcoin wallet recently made headlines by moving 37 BTC, valued at over $2.5 million, after being dormant for 11 years.
This event is part of a trend where old, large Bitcoin holdings are becoming active again, likely due to rising prices and positive market conditions.
The wallet, which originally acquired its Bitcoin in October 2012, left a minimal balance after the recent transfer. This type of movement often occurs when market prices are high, allowing traders to capitalize on increased asset values.
The transfer has sparked discussions online, with some praising the long-term profit, while others believe the holder should wait for potential future gains.
Movements by large holders, or “whales,” can significantly impact market sentiment. Large-scale asset transfers can lead to sell-offs that dampen market confidence, while moving assets off exchanges can indicate a trend towards holding, potentially boosting prices.
Recent blockchain data reveals that a segment of Bitcoin investors has started selling off assets to lock in profits following a recent price surge.
CryptoCon confidently predicted an imminent bull market for Bitcoin, downplaying concerns of a recession or prolonged bear market.
Jeff Kendrick, global head of digital asset research at Standard Chartered, predicts Bitcoin could reach $200,000 by the end of 2025, regardless of the outcome of the 2024 US presidential election.
MicroStrategy CEO Michael Saylor shared his optimistic outlook for Bitcoin following the U.S. Securities and Exchange Commission’s (SEC) approval of options on BlackRock’s Bitcoin exchange-traded fund.