Mysterious Bitcoin Whale Quiet For Over 7 Years Suddenly Woke Up Shortly Before BTC Slipped Under $45k.
03 Apr 2022, 08:00
Mysterious Bitcoin Whale Quiet For Over 7 Years Suddenly Woke Up Shortly Before BTC Slipped Under $45k
After tapping a weekly high of $48,000 on Monday, the bitcoin price erased the gains and dropped to as low as $44,250 on Thursday night after a 5.1% retracement.
Interestingly, a crypto wallet holding approximately 11,326 BTC (worth $517 million today) finally woke up on March 29 after many years of dormancy, according to the Whale Shadows tool.
Dormant BTC Wallet Activated Right Before Recent 5.1% SelloffWhale Shadows is a tool that was created by independent market analyst Philip Swift to track coins that were activated after years of sitting idle. It was designed to capture when +100 BTC are moved. Surges in this indicator are often accompanied by significant price movements, Swift notes.
“There was a significant movement on-chain yesterday, with +10k BTC that has not moved for the past 7-10yrs finally moving,” the analyst tweeted Thursday.