Over the past 7 days, Bitcoin price $16K region following collapse aftermath. Since then, a large number of “sleeping bitcoins” that have sat idle for five to nine years have moved in his four days. Bitcoin, which was much less valuable at the time, has been transferred for the first time in years.
$20 million worth of old Bitcoin moves after years dormant
Bitcoin (BTC) price Stable in the $16,150 range for 7 days to $16,995 per unit, just above the $17,000 zone. Over the past four days, the price ofBTC is significantly lower than it was at the beginning of November, while hundreds of older Bitcoins are moving.
For example, two owners spent his 348 Bitcoins on November 29, 2022, and the stash was once worth $348,000. I don’t know if the transferred coins were sold, but they were used from an address created almost 6 years ago. Heuristics also show that out of the 348 Bitcoins dormant since March 2017, 299 ofBTC likely belonged to the same owner.
348 BTC is worth approximately US$5.8 million using the current BTC exchange rate. One owner controlled the address “17HxA” created on March 29th, 2017, with a block height of 765,168 he used 48.88 BTC. Coincidentally, 5 more transactions from the address created at the end of March 2017 cost 59.99 for each transaction with block heights 765,169,765,184,} BTC spent. 765,185,765,187, and 765,190.
On the same day, the blockchain parser at btcparser.com detected a spending of 173.61 BTC from an idle address created on June 14, 2017, Another 100 BTC spent from address created on 12 Apr 2014. Worth less than $500 per unit.
Following these old spends, transactions from addresses first seen nearly a decade ago on April 26, 2013 were: Exceeded all spending traded on 29 November 2022. The transaction took place on December 2nd. , 2022, the wallet “1EaAv” used 600 so-called “sleeping bitcoins”. 600 BTC was worth around $84,000 on April 26, 2013. Spent at block height 765,644 is worth roughly $10.14 million using the current BTC exchange rate.
Data show that all bitcoins used after November 29th have been dormant for approximately 5-9 years, and when the original addresses were created, they were all combined. It was worth less than $800,000. Using today’s exchange rate, 1,221.45 BTC resulting from a “sleeping bitcoin” address is worth about $20 million. The old holder is moving bitcoin that has been dormant for 9 years since he was 5 years old, but the current bitcoin price is at his lowest in 2 years.
What do you think of the so-called “sleeping Bitcoin” addresses that have spent about $20 million on Bitcoin in the last few days? Please tell us your opinion about
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