Bitcoin
Dormant Bitcoin Address Transfers 100 BTC After Nearly 15 Years of Inactivity
An early Bitcoin address that held 100 BTC since late 2011 has transferred its balance, locking in a multi-million dollar gain.
A long-inactive Bitcoin wallet moved 100 BTC after remaining untouched for nearly 15 years, according to data highlighted by Galaxy Research. The coins, originally acquired on November 2, 2011, at an average cost basis of roughly $3 per coin, were transferred in block 967732. The transaction reflected a total value of approximately $8.09 million, representing a gain of over 2,486,000%.
The transaction occurred as Bitcoin traded around $80,346, alongside mixed technical perspectives from market commentators. Trader Peter Brandt noted that recent chart patterns may indicate a bear trap followed by a potential upward continuation.
In contrast, analyst Ali Martinez highlighted that the TD Sequential indicator registered a sell signal on Bitcoin’s four-hour chart following an 8.5% price rebound, suggesting that short-term buying momentum could be facing exhaustion.
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