Another Dormant Bitcoin OG Wallet Wakes Up And Sells BTC

A Satoshi-era Bitcoin wallet, which has been dormant since 2011 has suddenly moved 150 BTC worth over $16 ￰0￱ wallet first mined around 4,000 Bitcoin between April and June 2009, just months after the Bitcoin network went ￰1￱ data shared by Whale Alert revealed the movement on Thursday, which marked the first transaction from the address in 14 years. Satoshi-Era Bitcoin Wallet Activity Raises Questions According to data from the mempool and Nansen, the whale once held as many as 7,850 ￰2￱ last known activity occurred in June 2011 when the owner consolidated about 4,000 coins into one ￰3￱ week’s 150 BTC transfer was the first sign of movement since ￰4￱ analyst Emmett Gallic noted that the same individual might have once controlled over 8,000 BTC across several ￰5￱ time, the holder appears to have been selling small amounts through different ￰6￱ the recent transfer, the balance now stands at roughly 3,850 ￰7￱ transferred amount stands as only a small fraction of the wallet’s total balance and an even smaller share of daily Bitcoin trading volume , which is more than $20 ￰8￱ means the market effect from this move is ￰9￱ the Satoshi-Era Bitcoin Wallet Movement Matters Movements from early Bitcoin wallets always draw attention because they date back to the network’s ￰10￱ coins were mined when Bitcoin’s creator, Satoshi Nakamoto , was still active in online ￰11￱ data shows that only a few pre-2011 wallets send transactions each ￰12￱ time this happens, speculation grows about whether the owner could be Satoshi himself or one of the earliest ￰13￱ such theories are common, they rarely hold up under ￰14￱ old wallets that move funds turn out to belong to early miners or developers who have stayed quiet for ￰15￱ reactions to these awakenings are usually ￰16￱ tend to worry that old holders might ￰17￱ creates short-term price pressure.

However, past examples show that these coins are often just being moved to new and more secure wallets rather than being ￰18￱ Market Context Behind the Move The wallet’s awakening comes during a volatile period for ￰19￱ have been consolidating between $108,000 and $111,000 after a drop from the recent all-time high of $126,000. Earlier this month, the market saw $19 billion in leveraged positions ￰20￱ that, Bitcoin has shown ￰21￱ Fear and Greed Index currently shows cautious optimism as traders wait for the next major price ￰22￱ 150 BTC moved this week makes up a tiny fraction of overall market ￰23￱ and greed index shows caution among traders |