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A significant Bitcoin amount, about 1,057 BTC untouched for years, has suddenly sprung to life, sparking speculation in the crypto community.
In a tweet, CryptoQuant reported that 1,057 BTC that had not moved in 7-10 years just woke up. This sudden activity has raised concerns that long-term holders might be preparing to sell. According to CryptoQuant community analyst Maartunn, "Old coins are stirring. Over 1,057 BTC aged 7–10 years just moved, pushing the Spent Output Age Bands above the 50 threshold."
Old Bitcoin addresses may be reactivated in order to transfer the BTC to centralized exchanges, perhaps to take profit from their investments. Alternative motives could include simply ensuring the general security of their funds or a potentially compromised seed phrase. If the latter is the case, it may indicate that long-term holders have decided to sell now.
Vladislav SopovRecently, a $250 million Bitcoin whale was reported to have awoken after eight years of inactivity. The original stash of 3,000 BTC was transferred in 2017 and grew from $12.29 million to $260 million, a return of 2,115% (21.15x). The origins of the stash were traced to addresses as old as 2014 and earlier, with links to Coinbase transfers from the period.
Bitcoin price action
Recent weeks in digital asset markets have been characterized by a steady downtrend, with Bitcoin values trading 30% below the all-time high. During this decline, the $76,000 to $85,000 range has emerged as a key area of interest, with the market trading in this range since late February. Each sell-off toward the range's lows have been followed by a quick recovery, indicating that substantial reactive demand exists anytime prices fall below $80,000.
Gamza KhanzadaevBitcoin fell 3.6% in the last 24 hours to $81,853 as of press time, part of a larger crypto market sell-off that saw $562 million in liquidations in the same span.
According to Glassnode, the Realized Profit/Loss Ratio is beginning to show signs of near-term seller exhaustion but not yet a renewal of sustained bullish momentum. A longer-term look reveals a decline in investor profitability, as well as an on-chain "death-cross," implying that the market may remain weak for the foreseeable future.
Vladislav Sopov
Dan Burgin