Bitcoin Whale Awakens Fourteen-Year Dormant Wallets, Activating $2.18 Billion in BTC

A dormant Bitcoin whale, inactive for 14 years, activated wallets holding 80,009 BTC on July 4, BlockBeats News reports. Whale Alert monitoring confirmed the holdings’ value exceeding $2.18 billion.

The reactivation of these dormant Bitcoin holdings raises potential market volatility concerns. Analysts caution about possible sell-offs if these coins enter exchanges.

Massive BTC Movement Spurs Market Volatility Concerns

This event involves a Bitcoin OG whale, an early Bitcoin participant, who moved over $2.18 billion in BTC after activating several addresses. On-chain records show this activity represents one of the largest ever in terms of historic Bitcoin wallet movements.

Market sentiment is cautious as Bitcoin currently tests crucial resistance levels. Although no statements from key figures like Vitalik Buterin or regulatory bodies exist, the community speculates on possible reasons, such as private key recovery or estate transfer.

The movement of such large dormant Bitcoin holdings naturally sparks speculation about a potential sale, but without exchange deposits, the market impact remains unclear. — Unknown Analyst, Crypto Market Expert

Market Data and Insights

Did you know? The activation of these dormant wallets ranks among the largest BTC movements since November 2022, echoing past events that occasionally affected Bitcoin prices.

Bitcoin (BTC) is trading at $107,501.84, with a market cap of $2.14 trillion. Despite recent declines, BTC maintains a market dominance of 64.68% according to CoinMarketCap.

Coincu research emphasizes studying both historical trends and potential implications related to these activations. Given previous wallet movements’ often muted impact without exchange deposits, close monitoring may provide insight on long-term market effects.