From Investing.com: 2024-07-04 15:30:23

In a significant development, a dormant Bitcoin address holding 119 BTC worth $6.99 million has been reactivated after 12.4 years, gaining a staggering 1,166,666% since 2012. This trend of old wallets waking up has bearish implications, as holders may be preparing to sell, potentially driving prices down.

Another dormant address containing $2.6 million worth of BTC was recently activated, along with another address holding $2.1 million after 13 years of dormancy. These movements come at a time when the crypto market is struggling, with Bitcoin trading in the red at $57,300, sparking uncertainty among traders.

Read more at Investing.com: 1,166,666% Profit Wakes up Ancient Bitcoin Whale By U.Today