Bitcoin (BTC) long-term holders suddenly activated two dormant wallets on May 12, moving 1,000 BTC worth over $60 million. These whale addresses remained inactive for 10.7 years since September 2013, when this stash was valued at $125,000.
Notably, the Whale Alert account on X posted each transaction with an interval of 20 minutes. According to the alerts, these holdings were valued at $62,890 and $63,565 when the addresses first acquired them.
Two dormant addresses moving 500 BTC each. Source: Whale Alert on X
On that note, the Lookonchain account also reported the dormant whales’ activity, identifying that one address acquired 500 BTC on September 13, 2013, and the other on September 14, 2013.
BTC: Price vs. Dormant Circulation (5y). Source: Santiment’s SanBase Pro (Vini Barbosa)
As of this writing, Bitcoin trades at $61,000, and only 1,056 BTC have been moved within this category instead of over 10,000 units during top formations. Moreover, technical analysis, derivatives liquidations, and on-chain metrics suggest Bitcoin could soon rally to $72,000, for over 18% gains.
Conversely, analysts warned of an imminent BTC meltdown, while others are optimistic about an altcoin season potentially surging.
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