Bitcoin Whales Stir After 12-Year Slumber with $5.58M in Combined Transfers

The Bitcoin market is experiencing unusual activity as long-dormant holders are waking up after 12 years. According to Galaxy Research, four wallets inactive for more than a decade have transferred a combined 114.39 BTC within 48 hours.

The activity began on August 11 when three wallets created in January and February 2014 transferred a total of 87.43 BTC in separate transactions. The addresses moved 27.85 BTC, 26.81 BTC, and 32.77 BTC, worth approximately $5.58 million at the time.

This is not the only recent activity from dormant wallets, as a fourth wallet from the same period had transferred 26.96 BTC a day earlier. The coins were subsequently sent to newer wallets using P2SH-based scripts.