Dormant Bitcoin Wallets Transfer $325 Million After Over a Decade
Two dormant Bitcoin addresses from the early "Satoshi era" reactivated, transferring over $325 million in BTC ahead of a U.S. Federal Reserve rate announcement.
- First address moved 2,343 BTC, valued at over $222.2 million, after being inactive for approximately 10 years; acquired in July 2013 for about $185,850.
- Second wallet transferred 1,079 BTC, worth about $102.5 million, also inactive since mid-2013; initially purchased for an estimated $91,713.
Reasons for the Transfers
- The motive behind these transfers is unclear; possibilities include liquidation plans by long-term holders or changes in ownership.
- Whales may anticipate market volatility due to the Fed's upcoming interest rate decision on May 7.
- Current expectations suggest the Fed will maintain rates between 4.25% and 4.50% amid economic uncertainties.
- Most BTC holders are currently profitable; some may be looking to secure profits.
- Bitcoin's market dominance is nearly 64%, despite price struggles above $95,000; ongoing inflows into Spot BTC ETFs noted.
- Analysts predict a potential price dip to $92,000, while Bitcoin outperforms altcoins facing losses.
- Global crypto market cap has slightly decreased, but daily trading volume is rising.