Bitcoin Holds Steady at $80,000 Amid Altcoin Rotation and Dormant Coin Resurfacing

Bitcoin hovered around $80,000 over the weekend after a volatile week that saw it drop to $76,500 and then rally to $82,400. The strong US jobs report on Friday led to selling pressure, but Bitcoin recovered to its current level by the end of the week.

In contrast, Arbitrum's ARB token surged 42% to above $0.19, while Zcash climbed 17% to near $1,200, its highest level in nearly a decade. The total crypto market capitalization rose just 0.8% to $2.7 trillion.

A separate onchain development caught the attention of crypto sleuths: 600 BTC mined in March 2010 moved after more than 16 years of dormancy, sparking speculation about Satoshi Nakamoto. Whale Alert traced the funds to mining rewards paid across 12 Bitcoin blocks from March 2010 and concluded that none of those blocks can be connected to Nakamoto.