Reports indicate the transfer of 2000 BTC, reflecting increased activity among 'Satoshi Era' wallets.
Satoshi Era Wallets Making Huge Profits
The transfer of 2000 BTC to Coinbase exemplifies the recent trend of previously dormant Bitcoin wallets, which received cryptocurrency between 2009 and 2011, becoming active. The current market surge and the opportunity for high profits are encouraging early adopters to make use of their holdings, possibly adding selling pressure to the market.
Bitcoin ETF Outflows Concerning?
The recent outflow of $400.7 million from US-listed Bitcoin ETFs has raised concerns as it marks the third-largest outflow since their launch. Simultaneously, BlackRock reported an inflow of $126.5 million, despite significant outflows at Fidelity and Bitwise funds.
A Correction To $78K Or Rally Towards $100K?
Bitcoin, after reaching a new peak of $93,265, has seen a slight decline. Amid profit-taking by some investors, market optimism remains regarding the potential to surpass the critical milestone of $100,000 by year-end.
The revival of 'Satoshi Era' wallets and substantial outflows from Bitcoin ETFs might exert pressure on the market, yet confidence in cryptocurrency's future remains strong.
