Ancient Bitcoin whale worth $2.6 million reawakens after decade, hinting at potential upward trend

From Investing.com

October 1, 2024 11:00 AM:

An ancient Bitcoin whale worth $2.6 million reawakens after over a decade of dormancy, according to on-chain data. The trend of long-dormant Bitcoin wallets becoming active again, often linked to early adopters or miners, is on the rise amidst a Bitcoin market cycle unfolding within the broader crypto space.

Bitcoin hits $64,000 with a monthly close at $63,300, marking a 7.3% gain in September. Despite falling to $62,833 in September’s final day, Bitcoin rebounded to $63,991, hinting at a potential upward trend. Analysis by CryptoQuant shows low Exchange Flow Multiple values, signaling a potential new upward trend on the horizon.

Read more at Investing.com: Ancient Bitcoin Whale Reawakens After Decade as Epic Market Cycle Unfolds By U.Today