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Bitcoin Whales from Satoshi Era Return, Moving Millions in Dormant Addresses

Posted on April 22, 2023

Key Insights:

  • Dormant Bitcoin wallets from the Satoshi era have become active, with significant amounts being moved.
  • A whale investor profited over $175 million after activating a static address containing 6,071 BTC.
  • The current Net Unrealized Profit/Loss value for the crypto market indicates a state of neutrality.

Whale Alert, an AI-powered platform monitoring significant coin transfers across blockchains, has detected an exciting occurrence. Last Saturday, the service reported that a Bitcoin wallet from the Satoshi era had unexpectedly become operational.

Bitcoin whale stirs after decade hiatus

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The crypto whale, which had been dormant for the last ten years, just awoke with a significant transaction. The whale, which has a vast 1,128 Bitcoins worth $31.6 million, has only moved 279 Bitcoins worth $7.8 million to three locations.

A whale with 1,128 $BTC($31.6M) that has been dormant for 10 years transferred 279 $BTC($7.8M) to 3 new addresses just now.

The whale received 1,128 $BTC in October 2012 and May 2013, when prices were $12 and $195.https://t.co/2MxnVzcEMl pic.twitter.com/2GM7Oq4e2P

— Lookonchain (@lookonchain) April 21, 2023

This unforeseen occurrence took aback the crypto community, as the whale had been dormant since October 2012 and May 2013, during which Bitcoin was priced at only $12 and $195, correspondingly.

Whale Alert recorded the transfer of an enormous crypto whale on Wednesday, which had reactivated a dormant address holding 6,071 BTC, equivalent to over $178 million today, after 9.3 years. Notably, the investor purchased the Bitcoins for $3.3 million in 2013, realizing a profit of more than $175 million in a decade.

💤 💤 💤 💤 💤 💤 💤 💤 💤 💤 A dormant address containing 6,071 #BTC (178,128,678 USD) has just been activated after 9.3 years (worth 3,362,853 USD in 2013)!https://t.co/HOwG8l0IJ7

— Whale Alert (@whale_alert) April 19, 2023

Bitcoin’s value plummets, NUPL unchanged

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Currently, Bitcoin is trading at $27,246.04, experiencing a 10% decline from the previous week. According to Glassnode, a well-known crypto analytics platform, the Net Unrealized Profit/Loss (NUPL) value for the cryptocurrency market is 0.36, suggesting a neutral outlook.

The current market is not showing bullish or bearish signals but is in a period of transition. According to Glassnode, 55.8% of days had NUPL values more significant than the current level, while 44.2% had lower values.


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