A Bitcoin wallet originating from 2010 transferred 20,000 BTC valued at $2.42 billion amid Bitcoin’s rally to $123,000, marking one of the largest dormant-holding movements in recent market activity. The transaction occurred on July 14 as Bitcoin prices reached historic highs, suggesting potential strategic repositioning during the bull run.
The wallet had remained inactive for over 14 years before reactivating earlier this month. The transfer was executed in two distinct batches of 10,000 BTC each, indicating deliberate planning rather than impulsive liquidation. Such significant movement from early blockchain participants represents a rare market event given the extended dormancy period.
This substantial transaction has ignited discussions among analysts regarding possible profit-taking strategies and implications for near-term volatility. The activity underscores the evolving dynamics of Bitcoin’s ecosystem, highlighting how long-term holders influence market cycles and demonstrating confidence in the cryptocurrency’s enduring growth trajectory.