Dormant Bitcoin Wallets Stir as Price Hits $72,400
In the past 24 hours, a significant movement of Bitcoin has been recorded from dormant wallets that had remained inactive for years. According to btcparser.com, 1,314.41 BTC valued at $94.03 million moved from 28 wallets with no previous activity. The majority of this volume, 1,214.42 BTC worth $86 million, came from addresses created in 2014.
Further analysis shows that 21 of the 28 wallets transferred exact blocks of 50 Bitcoin, all from legacy P2PKH address types to more modern P2WPKH formats. This suggests a coordinated effort rather than random movements. Arkham Intelligence detected no links to exchanges in any of the destination addresses.
The 2014 cohort wallets have specific reasons to have activated now. During November and December of that year, Bitcoin's price ranged between $310 and $427, amid a full bear market. Taking the upper end of that range as a reference, holders who maintained their positions accumulated a gain of at least 16,645% at the time of the transaction.