A Satoshi-era Bitcoin wallet that had been dormant since 2009 moved 250 BTC to a new wallet address. Five wallets transferred 50 BTC each. Bitcoin prices hit a high of over $64,000 on major exchanges, trading at around $63,500.
Several Bitcoin (BTC) miner wallets that had been dormant for over 15 years were suddenly awakened and moved 250 BTC, valued at more than $15 million.
The so-called “Satoshi-era” wallets are miner addresses created during the time when Bitcoin creator Satoshi Nakamoto was actively mining BTC. These wallets date back to 2009, and five of them have just transferred 50 Bitcoin each to new addresses.
On-chain transaction tracking system Whale Alert highlighted five wallet movements of 50 BTC each in the early morning hours of September 20. In total, the five wallets transferred $15.9 million worth of coins to new wallets.
💤 Dormant address containing 50 #BTC (3,182,908 USD) activated for the first time in 15.6 years! https://t.co/rVRMOiMAfP
— Whale Alert (@whale_alert) September 20, 2024
Lookonchain shared a screenshot of a Whale Alert post about dormant coins, in this case each miner address received Bitcoin as a mining reward back in 2009. None of these wallets have made any transactions since their initial transaction.
Notably, at the time of writing, none of the new wallets had moved coins to cryptocurrency exchanges.
In March 2024, a Bitcoin wallet that had been dormant for over 12 years was suddenly activated and moved 500 BTC. Another wallet that had been dormant for over 10 years was suddenly activated in April 2023.
Bitcoin Price
These “Satoshi-era” BTC wallet movements come as Bitcoin prices have rebounded to above $64,000 amid the market's reaction to the Federal Reserve's interest rate cut this week. The benchmark cryptocurrency has struggled to rise in the past few months, seeing a major drop below $50,000 on August 5, 2024.
Commenting on the price outlook, crypto analyst Ali Martinez said traders will likely want to lock in profits at current prices.
TD Sequential told me to buy #Bitcoin at $57,400, but is now telling me to book profits at $63,700. pic.twitter.com/0h1yNowkae
— Ali (@ali_charts) September 20, 2024
BTC price hit a high of $64,140 on Coinbase in the early hours of Friday, September 20th, 2024. However, it is trading around $63,513 as of this writing.
