Bank

2024

Bitcoin

when

Epic

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
According to blockchain tracking service Whale Alert, a <a href="https://u.today/ancient-bitcoin-wallet-awakens-after-11-years-with-massive-32087-btc-gains">Bitcoin</a> address holding 185 BTC, worth nearly $10,553,799, was suddenly activated after 11 years of dormancy.
Whale Alert <a href="https://x.com/whale_alert/status/1833497408581316909">reported</a>: "A dormant address containing 185 BTC ($10,553,799) has just been activated after 11.0 years."
<blockquote>
 💤 💤 A dormant address containing 185 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> (10,553,799 USD) has just been activated after 11.0 years!<a href="https://t.co/OxUKClLbnG">https://t.co/OxUKClLbnG</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1833497408581316909?ref_src=twsrc%5Etfw">September 10, 2024</a>
</blockquote> 
The wallet, which had remained untouched for over a decade, resurfaced, attracting interest from the crypto community. The reasons behind its long dormancy and sudden activation remain unknown, fueling speculation ranging from forgotten investments to strategic long-term holdings.
The owner of the wallet, whose identity remains unknown, from indications now holds a significant fortune.
With Bitcoin’s value skyrocketing over the past decade, what was once a relatively modest sum is now a multimillion-dollar fortune. The BTC stored in the wallet was likely purchased when Bitcoin traded for less than $100 per coin, compared to its current price hovering above $56,000
<h2 id="bitcoin-price-action">Bitcoin price action</h2>
Asian markets and U.S. stock futures fell in Wednesday's trading session, with Bitcoin down nearly 1% to trade at $56,700, reflecting a risk-off sentiment on the financial markets.
The rest of the crypto market was also trading in red, save for a few crypto assets such as Internet computer (ICP), which was up 11% in the last 24 hours. Dogecoin, PEPE, SUI and BONK recorded losses of nearly 4%.
The yen rose sharply in late July after the Bank of Japan raised interest rates for the first time in decades, sparking an unwinding of risk-on yen carry positions.
According to Glassnode, the CVD metric can determine the current net balance of market buying and selling pressure on spot markets. Using the same method, Glassnode found that investor sell-pressure has increased over the last 90 days, contributing to the downward trend in Bitcoin's price action.

Ancient Bitcoin Wallet Sees Epic Awakening After 11 Years of Dormancy

Table of Contents

U_Today

Other articles published on Sep 11, 2024

Winning The Crypto Bull Run: Fantom (FTM), Polkadot (DOT), And ETFSwap (ETFS) To Lead The Rally

Bitcoin Mining Difficulty Set a New All-time High Record

Polygon Upgrades $MATIC Token to $POL: What It Means for the Network and Holders

What Are Crypto Airdrops? All You Need To Know

Stablecoins Set Ethereum Apart from Bitcoin: Fidelity

Paxos to Bring Regulated Tokenization Platform to Arbitrum

Join our free newsletter for daily crypto updates!