Bitcoin miner addresses dormant for 11 years have suddenly transferred $7 million in BTC. On-chain data reveals that these long-inactive wallets moved approximately 277 BTC recently. This activity has raised eyebrows in the crypto community, considering the prolonged inactivity.
The wallets, believed to be linked to early Bitcoin mining activities, had been untouched since their creation.
Analysts are speculating about the reasons behind this sudden transfer. Some suggest it might be related to increased Bitcoin prices or upcoming regulatory changes.
Blockchain data firm Arkham Intelligence highlighted this significant movement. The firm noted that such transfers are rare and often linked to early adopters or miners deciding to liquidate their holdings.
This movement could impact market sentiment, given the substantial amount involved.
Market watchers will be closely monitoring any further activity from these addresses. The crypto community remains abuzz with theories and implications of this transfer, with many wondering if more dormant wallets will follow suit.