A long-dormant Bitcoin wallet came back to life after seven years, transferring 2,043 BTC into a new address, on-chain data shows. The transfer comes as the price of Bitcoin remains in a tight range under the $70,000 level.
Old Whale Moves 2,043 BTC
According to CryptoQuant analyst J.A. Maartunn, the diamond hands whale purchased the Bitcoin haul they moved today back on Feb. 19, 2019, and they had been patiently HODLing ever since. The wallet once contained about 39,000 Bitcoins, which were originally sourced through Cumberland’s over-the-counter trading desk.
Sani, a blockchain data provider, added that deposits of 2,113.87 BTC made seven years ago and 757.787 BTC received two years ago also originated from Cumberland. According to the analyst, the wallet owner later consolidated these holdings into two separate addresses in a single transaction, along with smaller transfers.
The Tuesday shift to a new address could be routine security hygiene, a change of custody, or the first step toward an eventual sale. Onchain analysts will be watching closely to see whether the funds move to known exchange wallets.
Dormant whales often awaken either when prices are rallying or during market weakness.
After briefly sliding to almost $60,000 in a capitulation-style move last week, the world’s oldest and thus largest cryptocurrency burst back above the $70,000 level over the weekend, but momentum seems to have since waned. BTC has fallen 2.8% over the past 24 hours to $68,534 at the writing, according to CoinGecko data.
Notably, the movement of the long-inactive whale wallet follows a broader resurgence of older Bitcoin addresses in the past year, as long-dormant holders — including wallets inactive for more than a decade — have collectively transferred billions of dollars’ worth of BTC. Last month, a Bitcoin wallet that had been inactive for 13 years transferred about 909 BTC, worth around 85 million, to a new address.
Source: https://zycrypto.com/diamond-hands-bitcoin-holder-resurfaces-after-seven-years-moves-2043-btc/
