On January 10th, COINOTAG News reported a significant development in the cryptocurrency market. According to LookIntoChain analytics, a previously inactive wallet that had lain dormant for six years has suddenly transferred 500 BTC, equivalent to approximately $46.87 million, to Coinbase Prime just two hours ago. This wallet originally received the 500 BTC six years prior, at a time when Bitcoin’s price hovered around $7,000 per coin. This reactivation of a long-dormant wallet could signal a pivotal moment for market watchers, as it may influence current trading sentiments and liquidity. Investors should keep a close eye on how this influx of bitcoin impacts market dynamics in the days to come, particularly as it highlights the potential for sudden market movements stemming from large, dormant holdings.
Source: https://en.coinotag.com/breakingnews/500-btc-from-dormant-wallet-moves-to-coinbase-prime-what-it-means-for-bitcoin-investors/