According to on-chain data, a bitcoin-hodlers-unfazed-30-supply-dormant-5-years/” target=”_blank” rel=”nofollow”>Inactive bitcoin (btc) Wallet created more than a decade ago has suddenly woken up again, transferring more than a million dollars in btc to an unknown address. This unexpected but substantial transaction occurs as bitcoin price surpasses $64,000.
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A decade-old bitcoin wallet comes back to life
An old bitcoin wallet created 10.7 years ago executed a large-scale btc transaction on August 19. Blockchain analysis and monitoring system, Whale Alert, x.com/whale_alert/status/1825636078646133221?s=46″ target=”_blank” rel=”nofollow”>revealed on x (formerly twitter) that the address contained 19 btc, worth approximately $13,259 in 2013.
The bitcoin wallet that has been dormant for years, probably due to bitcoin-hodl-8-million-price/” target=”_blank” rel=”nofollow”>Strategic HODLingnow boasts impressive gains of around 8,844%, driven by the cryptocurrency's steady but dramatic price rise since 2013. Furthermore, Sudden activation of the wallet It comes as the price of bitcoin surpasses the $64,000 mark after experiencing a significantly bearish phase.
At the current bitcoin price, the 19 btc transferred by this decade-old wallet address is now worth over $1,185,944, marking a significant gain of $1,172,685. Transaction records also show that the anonymous sender transferred the bitcoin to an unknown address, triggering a fee of 0.000047 btc.
Usually when a Satoshi-era bitcoin wallet If it suddenly comes back to life, it usually indicates that there is a chance of increased market activity. Dormant wallets that move substantial amounts of bitcoin tend to affect market liquidity and price movementsMeanwhile, smaller bitcoin transactions could attract the interest of the crypto community, sparking speculation.
bitcoin turns bullish with a price surge of $64,000
In recent months, the price of bitcoin has struggled to recover. bitcoin-breaks-through-69000-setting-new-record/” target=”_blank” rel=”nofollow”>March, historical maximum of more than $73,000. The cryptocurrency experienced a sudden price drops and constant fluctuations due to large-scale market sell-offs and changes in investor sentiment.
After a long period of consolidation, bitcoin is finally… bitcoin-rebounds-from-60k-is-a-bull-run-coming/” target=”_blank” rel=”nofollow”>showing signs of a bullish rallyData from CoinMarketCap shows that the cryptocurrency rose by 5.33% over the past 24 hours and is now trading at $64,311. Over the past week, bitcoin also recorded an 8.6% increase, underlining the cryptocurrency's renewed strength and bitcoin-revisiting-72000-soon/” target=”_blank” rel=”nofollow”>potential for significant price recovery.
Many analysts are watching the cryptocurrency constant price increase as a bullish signal, potentially indicating a substantial price reversal from downtrends.
Popular cryptocurrency analyst Ali Martinez noted in a x.com/ali_charts/status/1826931768567439582?s=46″ target=”_blank” rel=”nofollow”>Publication x that the bitcoin Bull-Bear Market Indicator It has been oscillating between bearish and bullish since the beginning of August. However, with the cryptocurrency seeing further price gains, the indicator has once again taken a bullish stance.
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Additionally, a cryptocurrency market expert identified as 'Milkybullcrypto', x.com/mikybullcrypto/status/1826990141694476641?s=46″ target=”_blank” rel=”nofollow”>Outstanding that bitcoin is finally breaking out of the bullish reversal price pattern. x.com/mikybullcrypto/status/1827233147072688282?s=46″ target=”_blank” rel=”nofollow”>emphasized that the cryptocurrency's monthly bullish flag now has a price target of $100,719.
Featured image from CNBC, chart from TradingView
