Historic Bitcoin wallet with 1,128 BTC from Satoshi era reawakens after dormancy

According to Whale Alert, a dormant address that was 10.5 years inactive and was a Satoshi-era wallet containing 1,128 BTC worth $31,587,849 has now been activated.

More information on the wallet activities is available on Lookonchain. The whale with 1,128 Bitcoin reportedly revived and sent 279 Bitcoin worth $7.8 million to three new addresses. It mentions that the whale bought the aforementioned 1,128 BTC for $12 in October 2012 and $195 in May 2013, respectively.

As previously reported, a sleeping Bitcoin whale awoke yesterday after sleeping for 9.3 years and sent 2,071.5 BTC, worth about $60.7 million. On December 19, 2013, when the cost of Bitcoin was approximately $663, this whale received 6,071.5 BTC for the first time.

HODLers are frequently linked to currency dormancy. However, the Bitcoin network is currently experiencing greater activity. In its most recent weekly analysis, Glassnode states that organic transaction counts have reached over 270K/day and are on the verge of reaching cycle highs on a monthly average. The growth of ordinal inscriptions has crossed the one million mark, and monetary transfers are connected to this.

Although there is more activity on Bitcoin, more people are hoarding BTC coins, as Glassnode recently noted that the percentage of the total supply that has been active over the past five years has just reached an all-time high of 28.58%.

Based on the on-chain analysis, Bitcoin occupies a rather neutral space, producing a supply cluster between $16K and $25K, where a sizable amount of coin volume is traded.

On April 21 morning, Bitcoin temporarily fell below $28,000 as its downward trend entered its third day. At the time of writing, the price of Bitcoin had dropped by 2.41% the previous day to $28,220, and it is changing hands at $28,050.


BTC/USD 4-hour chart | Source: TradingView

When U.S. Federal Reserve officials hinted last week that the upcoming May policy rate meeting would see one more quarter-point increase in interest rates, concerns about interest rates started to emerge.

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