An ancient Bitcoin wallet reawakens with 94,700% profit, holding $11.49 million worth of BTC.

From Investing.com

August 10, 2024 04:30:21 pm:

A dormant Bitcoin wallet reawakens with staggering gains of 94,700%, holding 190 BTC valued at $11.49 million after being inactive for over a decade. The wallet’s value has surged by an astonishing 947-fold since 2013, attracting attention from the cryptocurrency community.

The reactivated wallet’s intentions remain unknown, sparking speculation among market participants. Bitcoin’s short-term outlook remains uncertain as price volatility persists, with a potential death cross on the horizon. Despite this, Bitcoin whales are accumulating assets, with $1.7 billion net outflows from exchanges indicating bullish sentiment.

On-chain data suggests renewed interest from retail investors in Bitcoin, with an increase in new addresses in recent weeks. This shift in trend could lead to a more balanced market and strong foundation for the next growth phase, potentially benefiting all participants in the cryptocurrency space.

Read more at Investing.com: Ancient Bitcoin Wallet Revives With Staggering 94,700% Profit: Details By U.Today