After Touching Above $64,000 For 15 Years, Bitcoin Wallets Are Sleeping, BTC Moves
Since 2009, Satoshi-era bitcoin wallets have been dormant, moving 250 BTC to a new wallet address. The five wallets transferred BTC in 50 cents each and the price of Bitcoin was trading at $63,500, up from $64,000 on major exchanges.
Several bitcoin (BTC) mining wallets that have been dormant for over 15 years have moved 250 BTC worth over $15 million.
The so-called ‘Satoshi era' wallets are mining addresses created during the years when Bitcoin creator Satoshi Nakamoto was actively mining BTC. These wallets They started in 2009 – five of them transferred 50 bitcoins each to a new address.
On-chain transaction tracker Well Alert has highlighted five 50 BTC wallet transactions. In total, five wallets transferred $15.9 million worth of coins to a new wallet.
💤 Dormant address with 50 #BTC ($3,182,908) activated after 15.6 years!
— Whale Alert (@whale_alert) September 20, 2024
Lookonchain shared a screenshot of Whale Alert's posts about Sleep Coins. In this case, every mining address received Bitcoin as mining rewards in 2009. One of these wallets has not been entered since the first transaction.
In particular, none of the new wallets will move the coins to the crypto exchange when writing.
In the year In March 2024, the Bitcoin wallet, which had been dormant for over 12 years, woke up to move 500 BTC. Another wallet that has been around for over 10 years, was activated in April 2023.
The price of Bitcoin
The movement of these ‘Satoshi era' BTC wallets comes as the price of Bitcoin recovered above $64,000 in market reaction to the US Federal Reserve's interest rate cut this week. The benchmark cryptocurrency has been struggling to break highs for the past few months – with a major drop below $50k on August 5, 2024.
Commenting on the price outlook, crypto analyst Ali Martinez said traders may want to take profits at the current price.
The TD sequence told you to buy #Bitcoin at $57,400, and now it's telling you to take some profit at $63,700. pic.twitter.com/0h1yNowkae
— Ali (@ali_charts) September 20, 2024
BTC price touched a high of $64,140 on Coinbase early on Friday, September 20, 2024. However, as of this writing, it has changed to $63,513.
