Whale Alert reveals that several Bitcoin addresses, inactive for over ten years, have suddenly become active again in the cryptocurrency market.
These reactivations involve substantial sums, including one address with 43 BTC. This sudden movement coincides with a slight decline in Bitcoin prices, which have dropped by 3.03% in the last 24 hours, now trading at 60,223.62.
The reactivation of these addresses, including two marked as 16vRqA and 1DUJuH, which each contained 500 BTC, has raised concerns over potential market impacts.
These addresses, dormant for ten years, resumed activity within a day of each other, transferring significant sums. Additionally, an address that had been inactive for 5.5 years moved 8,000 BTC to Binance, valued at about 5 million at the time of transfer.
In another major transaction, a wallet inactive for nearly 12 years transferred 500 BTC to several new addresses, with the entire holding valued at just under a million.
However, the cryptocurrency market remains volatile as strategic movements of old Bitcoins continue to influence trading dynamics. The activities of these long-dormant addresses could potentially indicate larger trends or strategic plays by major holders within the market.
Also Read: Bitcoin Dips Below $60K: Whales and Mt. Gox Trigger Sharp Sell-Off
