Approximately 80,000 Bitcoin originating from wallets dormant since 2011 were transferred to new addresses, causing a temporary price dip before swiftly stabilizing.
The significant movement from eight long-inactive wallets sparked immediate market reaction, triggering a brief 1.3% price correction. Bitcoin’s price momentarily dropped from around $110,000 to $107,600.
Despite the sizeable transfer, price action quickly stabilized. Market fundamentals exhibit strength, with Bitcoin currently priced at $108,043.69 and the total market capitalization exceeding $2.15 trillion. Bitcoin’s price has surged 41.12% over the past three months.
Speculation within the community and among experts is predominantly centered on strategic asset management objectives motivating the transfer. Views lean against interpretations of imminent large-scale liquidation or market manipulation tactics.
The resilience demonstrated underscores Bitcoin market maturity and enduring investor confidence. The rapid recovery following the movement highlights robust liquidity and calm assessment of such events.
This event marked one of the largest activations of Bitcoin held inactive since its early years.