Recent events in the Bitcoin market have drawn attention to the actions of whales, which have resumed significant movements after long periods of dormancy.
Awakening of Bitcoin Whales
A Bitcoin wallet "12tLs" transferred 10,000 BTC worth over $1 billion on Thursday after holding the assets for 14 years. This wallet received the 10,000 BTC on April 3, 2011, when the price was around $0.78 a coin.
Actions of Long-Term Holders
Hours later, two other whale addresses - "[bc1qm]" and "[1GcCK]" - also woke up after 14 years of dormancy, each transferring 10,000 BTC. Over this time, each of these transactions has led to an increase of over 13 million percent.
Future Price of Bitcoin
Some analysts predict that Bitcoin's price may remain capped below $112,000 without new buyers and minimal retail interest. However, with recent gains in equity indexes, optimism in the market could lead to a new wave of price increases for Bitcoin.
The actions of Bitcoin whales marking a significant event in the cryptocurrency market may influence future pricing and overall interest in Bitcoin among investors.
