The recent transfer of 80,000 BTC from long-dormant wallets, active since 2011, prompted short-term fluctuations in the Bitcoin market.
Movement of Assets from Dormant Wallets
Eight wallets that were inactive since 2011 transferred a total of 80,000 BTC into new addresses, causing a brief market stir. Analytics firm Arkham suggests this could indicate strategic management of historical assets.
Market Reaction to the Transfer
The market reacted to these transfers with a temporary price drop of Bitcoin by 1.3% from $110,000 to $107,600, demonstrating heightened sensitivity to whale movements. However, the price quickly stabilized, showcasing market resilience.
Quick Look at Bitcoin's Current Status
As of the latest data, Bitcoin is trading at $108,043.69 with a market cap of $2.15 trillion and dominance at 64.57%. Studies show that significant movements can evoke regulatory interest, but no official statements have been made yet.
The movement of 80,000 BTC from dormant wallets after 12 years not only caused temporary fluctuations in the market but also raised questions about the strategies for managing historical assets.
