49,700 Dormant Bitcoin Just Moved—What’s Next For BTC’s Price?
Bitcoin recent price movements have been nothing short of a rollercoaster ride. Earlier this week, BTC traded below $90,000 and quickly bounced back to above $100,000. As of today, the asset now hovers above $98,000. Amid this price performance, CryptoQuant contributor XBTManager has provided insights into an important on-chain metric, highlighting a notable shift in the 6-12 month spent output age bands. This activity sheds light on possible market dynamics and future price developments. Related Reading: Why Bitcoin’s Price Crash Could Be a Buying Opportunity for Big Players Analyzing....
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On Sunday, December 19, a dormant address that received 235 bitcoin in 2013 was activated after more than nine years of sitting idle. Bitcoin’s price has dropped lower after reaching its all-time high on November 10, and throughout December, records show a great number of so-called ‘sleeping bitcoins’ have activated during this period.
Dormant Addresses Wake up After Years of Slumber
The day that bitcoin (BTC) tapped an all-time price high at $69K per unit on November 10, a miner from 2010 spent 1,000 sleeping bitcoins and 1,000 bitcoin cash (BCH) as well.....
Recent events have seen the Bitcoin market show fresh vitality; the price of the coin exceeds $63,000. This spike coincides with a slew of noteworthy occurrences that both experts and investors have noticed. Related Reading: Ethereum Seen Hitting $5,000 as German Bitcoin Sell-off Shakes Market Dormant Wallet Turns Into Action The turning on of a long-dormant Bitcoin wallet is among the most interesting events. Known as “1 EhXAfST,” the wallet had been dormant for almost 12 years until abruptly sending 1,000 BTC—worth about $60 million—to two new wallets. Given the....
Bitcoin is trending downside on lower timeframes and seems to hint at future losses. The number one crypto by market cap records a 3% loss in the past week, but there is a potential sign of hope for the bulls. Related Reading | Why Ethereum Could Trade At $500 If These Conditions Are Met At the time of writing, Bitcoin (BTC) trades at $20,000 with a 1% loss in the last 24 hours. As a pseudonym trader pointed out, Bitcoin whales are currently buying into BTC’s price action and could be hinting at a future relief bounce. The trader used data provided by Material Indicators to show what....
On-chain data shows a Bitcoin whale has recently transferred around 500 BTC that had been previously dormant for around 5 to 7 years. Bitcoin Spent Output Age Bands Show Spike In 5-7 Years Old Coins As pointed out by an analyst in a CryptoQuant post, this movement of 500 BTC has come following the 5k […]
Bitcoin has closed about important resistance but continues to move sideways in the last 24 hours as the altcoins sector shows more strength. The first cryptocurrency by market cap might be forming a range between its yearly low at around $18,000 with a top near its previous highs. Related Reading: WATCH: Will Powell’s Friday Speech Send Bitcoin Soaring? Daily TA August 25, 2022 At the time of writing, Bitcoin (BTC) trades at $21,600 with sideways movement in the day and a 7% loss over the past week. Trader Josh Rager shared a potential thesis for the price of Bitcoin and its future....