Dormant Bitcoin Wallet Transfers 400 BTC Worth $44 Million

A dormant Bitcoin wallet activated, transferring approximately 400 BTC, valued at $44 million, into several new addresses. The wallet's activity traces back to early mining nearly 15 years ago, last moving coins in 2013 when Bitcoin was priced around $135.

Key Details

The activation involved multiple transactions, mostly in batches of 15 BTC.
The wallet's value has increased about 830 times since it last moved funds.
The owner remains unidentified despite transparent blockchain transactions.

Trend of Old Wallets Activating

This event is part of a trend where Satoshi-era wallets are becoming active.
In July, Galaxy Digital sold over 80,000 BTC worth nearly $10 billion.
Another wallet with 444 BTC moved approximately $50 million recently.

Market Context

October historically sees positive Bitcoin performance, but current signals show mixed sentiment.
Holder retention is down to 80%, suggesting weaker demand.
Bitcoin traded near $114,000 with a 2.05% daily gain, yet analysts monitor risk levels closely.

Movements from these early wallets are significant due to their historical context, though the intent behind such transfers remains unknown, whether it's estate settlement, profit-taking, or other reasons.