The post Dormant Bitcoin Wallets Resurface, Moving Millions After 15 Years appeared on BitcoinEthereumNews.com.

Two dormant Bitcoin wallets reawaken after 15 years, transferring 100 BTC worth over $6.24 million. Institutional investors are increasingly shifting toward Bitcoin ETFs, with BlackRock and Fidelity leading the trend. Two long-dormant Bitcoin miner wallets have suddenly resurfaced, igniting interest and conjecture in the cryptocurrency world. These wallets, which had been inactive for more than 15 years, recently launched substantial transactions, gaining attention owing to the huge value involved. Old Bitcoin Wallets Stir Market with Multi-Million Transfers According to Lookonchain, the first wallet, which had been undisturbed for 15.7 years, transferred 50 BTC, which is presently worth almost $3.05 million. Source: Lookonchain Meanwhile, the second wallet, which had been idle for 15.6 years, sent an additional 50 BTC, worth around $3.19 million. The total amount transferred was roughly $6.24 million. Source: Lookonchain The resurgence of such ancient wallets has always piqued the market’s interest, raising questions about the motivations behind such movements and if they signal wider trends or are simply individual actions. Interestingly, inactive Bitcoin wallets have revived several times in recent months. CNF has previously noted a younger wallet that, after five months of idleness, sold 200 BTC, resulting in an astounding profit of more than $168 million. Such fluctuations indicate that some holders, whether individuals or institutions, are deliberately timing their withdrawals to maximize profits as the price of Bitcoin continues to rise. This type of action frequently influences market sentiment, sparking concerns about probable whale movements and their impact on Bitcoin price dynamics. As Bitcoin undergoes these large transfers, it also sees significant inflows, indicating increased investor optimism. According to recent data, the cryptocurrency saw an inflow of almost $436 million, indicating that investors are more confident in its future potential. This pattern contrasts dramatically with Ethereum’s current predicament, in which concerns about the profitability of…

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Filed under: News - @ September 22, 2024 7:09 am