Cardano wakes up its whales, ADA crypto under pressure Cointribune
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Top Binance Traders Now 300% More Bullish on XRP, Shiba Inu (SHIB) Price Prints Golden Cross, Satoshi-Era Whale Wakes Up to Move $156 Million in Bitcoin — Crypto News Digest TradingView — Track All Markets
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Shiba Inu (SHIB) Burning Through Support Levels, Ethereum (ETH) Finally Wakes Up, Solid Above $3,000, XRP Defies Price Correction: Comeback Imminent U.Today
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Activities have been spotted on another long-dormant Bitcoin address which holds almost 149 Bitcoin (BTC).
Huge Gains on Dormant Bitcoin Addresses
Whale Alert reported the reactivation of a Bitcoin address that has laid dormant for approximately 10.6 years.
A dormant address containing 149 #BTC (8,590,673 USD) has just been activated after 10.6 years (worth 81,667 USD in 2013)!https://t.co/oL0l1mbVlr
— Whale Alert (@whale_alert) July 9, 2024
This address with 149 Bitcoin was worth only $81,667 in 2013 when it suddenly went silent. However, Bitcoin has seen significant growth in the last ten years even though there has also been some fluctuations. It even went as far as hitting an All-Time High (ATH) of more than $73,000. At the time of this writing, 1 unit of BTC has a market value of $57,819.04 with a 2.85% increase within the last 24 hours, according to CoinMarketCap data.
Therefore, the 149 Bitcoin is now worth over $8.6 million, corresponding to about 10,419% profit in a decade. Noteworthy, this ranks as one of the highest gains that a dormant Bitcoin wallet has recorded.
In the last couple of weeks, there have been several BTC dormant addresses that suddenly began to show signs of activity. A few days back, Whale Alert spotted the reactivation of a Bitcoin address that has been dormant for approximately 11.1 years. This wallet held 20 BTC which was valued at $1.13 million based on the market price of Bitcoin at the time. Currently, that same holding is worth $1.15 million.
Two days earlier, another wallet which held 43 Bitcoin was also activated with its holding equivalent to about $2.5 million. These addresses suddenly began to exit their Bitcoin position recently, amidst a price plunge. Unfortunately, the trend bothers the broad crypto industry, especially as the market is generally facing intense selling pressure.
Crypto Industry Experience Renewed Hope
However, today has been better than every other day this past two weeks. Even the German government which has been on a BTC dump spree, reaccumulated more than 3,000 units of the firstborn digital currency. Bitcoin, Ethereum and other digital currencies saw a positive flip in their sentiment. A majority of them registered price increase between 2% to 13%, suggesting recovery of the market.
To a large extent, the sudden bullish course is linked to Jerome Powell’s Tuesday testimony. As reported earlier, the Federal Reserve Chairman spoke to the Senate Banking Committee about inflation and interest rate cut. Till this time, it is still not certain whether inflation is heading back to the 2% target.
Read More: Golem Shifts 4,600 ETH to Binance and Bitfinex Amid Price Recovery
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Another Bitcoin (BTC) address has suddenly woken up from more than a decade of dormancy, further fluttering the broad crypto market.
Bitcoin Address Reactivation Follows Price Dip
Crypto analytics platform, Whale Alert has spotted the reactivation of a Bitcoin address that has been dormant for approximately 11.1 years.
— Whale Alert (@whale_alert) July 5, 2024
The address in question contains 20 BTC which is currently valued at $1.13 million based on the market price of Bitcoin at the time of this writing. Upon its reactivation, the BTC address has transferred its holdings to an unknown wallet address.
It is worth acknowledging that this kind of wallet activities have become rampant these past few days. All of a sudden, wallets that were dormant for many years begin to show signs of activity. Importantly, their reactivation coincide with the period that BTC price is receding.
From an all-time-high (ATH) of over $73,000 in mid-March, Bitcoin gradually dropped until it found support at $65,000. The firstborn digital currency hovered around this level for a few weeks, hinged on the flows from spot Bitcoin ETFs that was approved by the United States Securities and Exchange Commission (SEC) in January. However, as the crypto ETF saw more outflows compared to inflows, Bitcoin saw its value plummet drastically.
At the time of this writing, the coin was more than 25% lower than the ATH it registered in March. CoinMarketCap data shows that the coin is currently trading at $56,693.72 with a 2.87% drop in the last 24 hours. Some experts speculates that Bitcoin may experience further dip, especially after it went below 200-day Simple Moving Average (SMA).
However, it is not yet clear how much further down the coin will go.
Multiple BTC Dump Haunt Crypto Market
On Wednesday, Whale Alert also noted the reactivation of a Bitcoin address containing 43 Bitcoin but had laid dormant for more than 10 years. This was after two dormant Bitcoin whale addresses with the markers “16vRqA” and “1DUJuH” reportedly came alive. Both wallets held 500 BTC each and became dormant within a 24 hour interval of each other.
These formerly dormant BTC wallets share a similarity with the German government, the U.S. government and Mt.Gox. At the moment, all these entities are dumping Bitcoin into the market, thereby contributing to selling pressure. It is not yet clear how the market would survive the Bitcoin dump.
Read More: Binance’s Illegal Operations Highlighted in Court by Central Bank
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
1,166,666% Profit Wakes up Ancient Bitcoin Whale By U.Today Investing.com
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In the last couple of days, more Bitcoin (BTC) addresses have woken up from their long state of dormancy. Their reactivation is raising concerns amongst crypto enthusiasts.
Multiple Dormant Addresses Reactivated
Whale Alert has drawn the attention of the crypto community to the reactivation of a Bitcoin address which had laid dormant for more than a decade.
— Whale Alert (@whale_alert) July 3, 2024
As showcased, the wallet held 43 Bitcoin which is currently equivalent to about $2.5 million. This is based on the market value of the digital currency at the time of the writing. Notably, Bitcoin has registered a 3.74% dip within the last 24 hours and is now trading at $59,627.62.
In mid-March, BTC price rose significantly especially as spot Bitcoin ETF inflows soared. This was the season when the flagship cryptocurrency hit its current all-time-high (ATH) of over $73,000. However, since that time, the coin has seen a steady drop in its value coupled with some fluctuations towards a price revival. Noteworthy, most of these wallet reactivation and transfer of BTC showed up as Bitcoin began to lose its profits.
Two Bitcoin whale addresses with the markers “16vRqA” and “1DUJuH” which stayed dormant for over a decade came alive in May. Coincidentally, the two addresses contained the same units of Bitcoin (500 BTC) and even went dormant within a 24 hour interval of each other. Similarly, an old Bitcoin address that has been dormant for 5 and a half years resurfaced in early June. Upon reactivation, the address transferred 8,000 BTC which it received from 6 different transactions to the Binance exchange. At the time of the transfer, the Bitcoin were worth about $535 million.
Crypto Liquidations Hit $162M
One of the longest dormant Bitcoin wallet was also reactivated last week. On June 27, the on-chain tracker Lookonchain revealed that a dormant Satoshi-era miner wallet resurrected after 14 years of dormancy. This address also moved 50 BTC to the Binance crypto exchange.
Generally, the broad crypto market is seeing huge liquidations as investors attempt to bring their losses to the barest minimum. According to CoinGlass data, leveraged long positions experienced a significant drop recently, impacting the crypto industry.
More than 56.670 traders were liquidated, taking with them $162.22 million in digital assets. The largest single liquidation of $4 million was from OKX exchange.
Read More: Bitwise Files Amended S-1 for Ethereum ETF Ahead of Launch Deadline
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The latest update from the on-chain analytics platform Lookonchain has taken the broader crypto industry by storm. Today, June 27, the on-chain tracker revealed that a dormant Satoshi-era miner wallet resurrected after 14 years of dormancy, shifting 50 BTC to the Binance crypto exchange. This move by the miner, amid an ongoing capitulation and Bitcoin price volatility post-halving, has stirred a whirlpool of speculation among market participants. Let’s delve deeper into why:
Miner Offloads BTC To Binance Amid Capitulation
Notably, rewards for mining Bitcoin have reduced substantially after this year’s halving event, forcing miners to bore the brunt burn of market pressure. Further, as the BTC price continues to encounter downside pressure, a recent trend emerging within the market is miner capitulation. This refers to a phenomenon wherein miners reduce operations and liquidate BTC holdings amid diminishing rewards.
Simultaneously, falling in line with this trend, Lookonchain’s data shows 50 BTC, worth $3.05 million, offloaded to Binance, one of the world’s leading crypto exchanges. The miner address 1PDTDwpgR was noted making the deposit.
Intriguingly, this address received 50 BTC as of July 14, 2010, shortly after the BTC network initially went live. This period is known as the Satoshi era, a term from late 2009 to 2011, when Bitcoin’s pseudonymous founder, Satoshi Nakamoto, was live on public forums.
Besides, Bitcoin (BTC) continues to encounter downside pressure, which might have caused the miner to experience a panic selling behavior to reduce exposure to further price declines. A recent report by CoinGape Media also showed a decline in miners’ reserves with significant BTC selloffs post-halving.
Simultaneously, coupled with this data, the waning BTC price action has pushed crypto market participants under the gun.
Also Read: Crypto Prices Today June 27: BTC & Altcoins Backtrack, KAS & MKR Flout Market Trend
Bitcoin Price Slips
As of writing, BTC price traded at $60,920.46, down 1.13% over the past day. Monthly chart for the flagship crypto shows a correction of 10.95%, whereas the weekly chart shows a pullback of 6.77%. This bearish movement falls in line with the recent miners’ selloff.
However, Bitcoin maxi Fred Krueger recently took to X, taking a contrary stand on the matter. Krueger stated, “These miners no longer matter to the price of Bitcoin.”
Concerning this, the Bitcoin maxi spotlighted that the top 5 miners collectively held 34K BTC. “Even if they sold half of everything they have, thats only 1 billion USD, or 0.1% of the value of the asset,” he added. This comes undermined in terms of supply, as these 5 generate 2K BTC per month.
Also Read: Bitcoin Bears Still In Control, Here’s Why BTC Price Pump Is Temporary
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The Bitcoin foray past its previous all-time high into new territory was short-lived as the crypto dipped in the hours after. On-chain data has shown an interesting scenario that contributed to selling pressure leading to the crash. According to Spot On Chain, a dormant Bitcoin address holding $67.1 million worth of Bitcoin recently came to life after 14 years of inactivity to sell all of its large holdings.
Bitcoin Wallet Wakes Up To Crash BTC Price
Bitcoin recorded a new all-time high of $69,200 during the week to surpass the previous record set in November 2021. This long-awaited Bitcoin milestone ignited a strong feeling of euphoria among crypto traders as it marked the first step to a six-digit Bitcoin price. However, this euphoria was short-lived as the new all-time high caused a wave of profit-taking among investors, which resulted in Bitcoin falling to $61,200 in the hours that followed.
On-chain data from Spot On Chain indicates that this crash was further exacerbated by a long-dormant Bitcoin whale. The whale address, which had remained inactive since 2010, woke up after the new Bitcoin all-time high to sell all of its holdings.
According to Spot On Chain, the whale minted 1,000 BTC back in 2010 when the price was below $0.28. That would mean the Bitcoins were worth $280 at the time they were acquired. By the time they were sold on the crypto exchange Coinbase, the Bitcoins were worth $67,116 per coin, suggesting that the whale might have profited over $60 million.
A dormant whale woke up after 14 years to deposit all 1,000 $BTC ($67.1M) to #Coinbase at $67,116 ~20 hours ago, allegedly contributing to the recent market crash!
The whale minted those $BTC in 2010 when the price was below $0.28, suggesting that the whale might just have taken… pic.twitter.com/VBj6VvzAuH
— Spot On Chain (@spotonchain) March 6, 2024
The Bitcoin blockchain is home to many active and dormant whale addresses. The reactivation of old, dormant wallets containing massive amounts of BTC like this one tends to attract the interest of investors about who owns them. The reactivation of dormant addresses is impossible to predict, and not all of them indicate profit-taking.
What’s Next For BTC?
Bitcoin’s pullback after setting a new all-time high was anticipated by some expert traders. The crypto has since regained its footing after the dip and is now trading at $66,915.
Most of the recent spike can be attributed to massive accumulation from traders and institutional inflow into Spot Bitcoin ETFs. Despite outflows from Grayscale’s ETF, the total net flow into the ETFs was $332 million yesterday. The total net flow since January 11 has now crossed over $8.895 billion. At the same time, Bitcoin whale transactions worth at least $100,000 now stand at $187 billion in the past seven days.
BTC price at $67,000 | Source: BTCUSD on Tradingview.com
Featured image from ABC News, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
A recent transaction by an XRP whale is currently threatening XRP’s price recovery. This particular address is known to have moved all their XRP holdings worth millions of dollars, a move that the XRP community fears could cause a downturn in the token’s price.
Whale Moves Over 443 Million XRP
Data from blockchain tracker Whale Alert shows that an unknown address linked to crypto Bitvavo sent 443,112,410 XRP to another unknown address that is linked to Bitvavo. Interestingly, data from the XRP Scan shows that the receiving address was just activated prior to when the transaction occurred.
While the reason for this recent transaction remains unclear, such moves are always known to stir the crypto community as they raise speculations of a sell-off or an impending one. Dumping XRP tokens of such magnitude will no doubt have an impact on XRP’s price and could cause the token to decline further.
Whale transactions involving XRP seem to have become a common trend, with Bitcoinist and NewsBTC reporting on several occasions how a significant amount of the token has been moved from one address to another. Last week, over 63 million XRP tokens were moved in two different transactions between crypto exchanges and unknown wallets.
Meanwhile, it is worth mentioning that the address that received the 443 million XRP is yet to make any move, as on-chain data shows that there haven’t been any outflows or inflows since then. That should calm fears about any impending selloff, as the move might have been made as a security measure to secure the funds.
Token price struggles at $0.56 | Source: XRPUSD on Tradingview.com
All Is Well That Ends Well For XRP Price
XRP holders have continued to worry about XRP’s stagnant price action, with the token failing to make a significant price move up since losing its gains from Judge Anlaisa Torres’ ruling. However, going by Crypto Rover’s prediction, these concerns may soon be a thing of the past as XRP is expected to make a parabolic move in the “upcoming 8 weeks.”
Crypto analyst Egrag Crypto has also continued to urge the XRP community to focus on the bigger picture rather than worrying about XRP’s current price level. This big picture includes his prediction that XRP could rise to as high as $27 in the next bull run. If these predictions somehow manage to materialize, then there’s definitely a happy ending for XRP holders.
Therefore, XRP’s tepid price looks like a small price to pay for the good things that possibly lie ahead for those who hold steadfast to their conviction that XRP will witness a parabolic move at some point.
At the time of writing, XRP is trading at around $0.56, down in the last 24 hours, according to data from CoinMarketCap.
Featured image from Forbes, chart from Tradingview.com
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
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