Satoshi-Era Wallets Stir Back to Life After 16.5 Years

Seven Bitcoin wallets from the Satoshi era have stirred back to life after an astonishing 16.5 years of inactivity, sending shockwaves through the cryptocurrency market.

The dormant wallets, each containing 50 BTC mined in March 2010 as part of the initial mining rewards, moved a total of 350 BTC worth approximately $28 million.

This unexpected surge in activity has piqued the interest of traders and analysts alike, particularly given the timing. Bitcoin is currently trading near $80,000 following a recent rebound.

The daily chart shows that Bitcoin is still comfortably above its major moving averages, with the 20-day average at $75,116 and the 200-day average around $72,637.