Dormant Bitcoin wallets are now active, prompting speculation about motives and market impact.

From Investing.com

November 30, 2024 11:00 AM:

In a surprising turn of events, long-dormant Bitcoin wallets have suddenly become active after years of inactivity. Speculations arise regarding the motives behind these transactions, with some suggesting that early adopters or miners are either cashing out, reengaging, or strategizing in response to current market conditions.

Two wallets that have been inactive for over a decade have been reactivated, containing 429 BTC worth $41,707,628 and 404 BTC worth $39,330,452. Similar patterns of increased activity have been observed in other wallets, signaling a potential strategic move by long-term holders amidst Bitcoin’s meteoric surge.

Bitcoin’s price is set to record one of its strongest months in 2024, with a projected 38% gain for November. Trading at $96,284, Bitcoin is inching closer to the $100,000 mark, with bullish predictions suggesting a possible doubling by the end of 2025.

Read more at Investing.com: Ancient Dormant Bitcoin Wallets Spring to Life in Unexpected Surge By U.Today