Sleeping Bitcoin Wallets Move 550 BTC, Show Say Dem Dey Collect Profit
Two dormant Bitcoin wallets wey date from 2009–2011 miner era don start to dey active again, dem move together total of 550 BTC (~$60 million). For September 29, Lookonchain data show say one address wey don sleep for 12 years transfer 400.08 BTC (~$44.3 M). For October 23, Whale Alert, Nansen and mempool.space konfirm say one Bitcoin wallet wey never move for 14 years shift 150 BTC (~$16 M), still get around 3,850 BTC from di original 8,000 BTC wey dem mined early 2009. According to blockchain analysis by Emmett Gallic, owner of di wallet don dey sell small amount since 2011. Dis kind reactivation of dormant Bitcoin wallets by long-term holders mean say dem dey do strategic rebalancing and dey take profit as price no dey move much. Traders suppose dey watch out for more reactivation of early miner addresses for possible short-term wahala and chance to make profit ahead of market cycles.
Neutral
Di reactivate of two early miner dormant Bitcoin wallets wey dey move 400.08 BTC and 150 BTC mean say long-term holders dey strategically take profit and rebalance, no be panic sell. Past behaviour show say this kind move fit cause short-term wahala from speculative traders but e no mean say plenty people dey sell. Since the volume no too big compared to total supply and as dem dey prepare for future market cycles, di overall effect on BTC price go be neutral.