Bitcoin's early adopters are stirring. On-chain data reveals a sudden flurry of activity from long-dormant wallets. These moves are turning heads in the crypto world.
Whale Alert, a platform tracking large crypto transactions, spotted the action. They shared the news on X, formerly Twitter. A wallet containing 25 BTC, worth $1.43 million, woke up after 10.6 years.
The gains are eye-popping. This stash was worth just $20,399 when acquired in 2013. That's a whopping 6,900% increase over a decade.
But that's not all. Another wallet, even older, joined the party. It held 24 BTC, valued at $1.44 million. This one had been quiet for 11.3 years.
The big splash came from a third whale. They moved 149 BTC, about $8.6 million, after 10.6 years of inactivity. Talk about a long-term hold!
All told, these ancient whales shifted around $11 million worth of Bitcoin. It's a stark reminder of the fortunes made by early believers in the crypto king.
This activity comes on the heels of other big moves. Crypto strategist Ali Martinez recently noted some serious selling. He found that major BTC investors dumped 50,000 BTC – worth $3.3 billion – in just 10 days last month.
Miners are getting in on the action too. Martinez says they've been offloading their stashes to cash in on profits. This sell pressure contributed to a recent dip in Bitcoin's price.
"Bitcoin miners have played a role in the recent BTC price correction, selling over 1,200 BTC, worth more than $79.20 million!" Martinez stated.
Despite these moves, Bitcoin's price is holding steady. At the time of writing, it's trading at $57,933, up 1.06% in the last 24 hours. The crypto market never sleeps, and neither do its oldest whales, it seems.