Bitcoin's Long-Sleeping Miner Wakes Up with $31M Worth of Coins
A Bitcoin miner who has been inactive for over a decade has stirred up activity in the market by transferring 500 BTC, valued at $31.27 million today after being acquired at $1,020 per coin in 2013.
The coins sat idle through multiple cycles until this move, representing a 60x gain from the original cost basis of $510,000. This significant increase has piqued the interest of traders and analysts alike, as they attempt to make sense of the sudden movement.
Prediction models suggest that BTC is trading inside Bollinger Bands with upper resistance at $63,741.76 while EMA50 stands at $63,672.91 and EMA200 at $63,708.7. However, in a bearish trend structure, RSI remains at 45.6, keeping momentum neutral even as MACD registers a bullish golden cross at -269.75.