A Bitcoin (BTC) miner from the Satoshi Era is making a play that may see the sum of 2,000 BTC units liquidated. According to an X update shared by Julio Moreno, head of research at crypto analytics and intelligence provider CryptoQuant, these 2,000 Bitcoin units were mined in 2010. From chart indications, the Bitcoin assets had not moved from 2010 until recently.
It is not uncommon for Bitcoin whales to wake up and record a massive transaction. The aim of most of these transactions remains unknown but mostly points to liquidations. The 2,000 BTC were mined when the price of the digital currency was less than $0.5. At the time of writing, Bitcoin’s price has jumped to $70,086.52, and this has pushed the market value of the coin from about $1,000 to $140,172,400.
Such massive valuations are not uncommon as U.Today reported earlier that Bitcoin whales are making their emergence, capitalizing on the uptick in the broader crypto ecosystem.
Earlier in March, Bitcoin jumped to its all-time high (ATH) at $73,750.07, creating an ambiance that makes it attractive for whales and miners alike to take advantage of the price growth.
More valuation incoming
While the reawakening of this Bitcoin miner and other BTC whales might be based on the price of the digital currency, market veterans believe that larger valuations are on the horizon.
According to top market analyst Michael van de Poppe, Bitcoin has the right fundamentals to jump as high as $80,000 before the upcoming halving event in April. While this halving event naturally drives major capital attraction, the spot Bitcoin ETF sentiment and institutional embrace are helping to reboot interest in the premier digital currency.
With ongoing accumulation, the demand side of BTC is already solidified, and the halving event will further help trigger a supply crunch that will position the Bitcoin price in ultra-bullish discovery mode.