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The well-known cryptocurrency tracking service Whale Alert, which observes significant crypto transactions, has highlighted two long-dormant Bitcoin wallets that have recently been reactivated over the last two days.
Both previously inactive wallets have now been brought back to life, showcasing substantial profits from their BTC holdings.
Satoshi-era Bitcoin Whales Resurfacing
Whale Alert disclosed that nearly 14 hours ago, an ancient wallet was reactivated, containing 53 BTC. At the current Bitcoin price, this amounts to $3,498,414, whereas in 2013, this quantity of BTC was valued at $3,716. This Bitcoin holder has experienced an extraordinary profit increase of 94,044%.
A dormant address containing 53 #BTC (3,498,414 USD) has just been activated after 11.1 years (worth 3,716 USD in 2013)!https://t.co/jK81cnZjug
— Whale Alert (@whale_alert) July 23, 2024
A dormant address containing 53 #BTC (3,498,414 USD) has just been activated after 11.1 years (worth 3,716 USD in 2013)!https://t.co/jK81cnZjugAnother early Bitcoin investor was identified activating his wallet by the same source on July 22. This wallet holds $1,352,704 – 20 Bitcoins, which were last moved 13.4 years ago – in 2011.
A dormant address containing 20 #BTC (1,352,704 USD) has just been activated after 13.4 years!https://t.co/GPxK7udHIK
— Whale Alert (@whale_alert) July 22, 2024
This occurred a year after the enigmatic Bitcoin creator, Satoshi Nakamoto, exited the public arena, leaving his creation in the hands of developers eager to advance BTC.
Recently, several other ancient wallets with significant Bitcoin holdings have also emerged from dormancy, yielding considerable profits for their owners.
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Bitcoin Approaching $67,000
Cryptocurrency analyst and trader Ali Martinez has provided insights into the current trajectory of Bitcoin, the leading cryptocurrency.
In the last 24 hours, BTC has decreased by 2.16%, falling below the $67,000 mark and settling just above $65,000.
Over the past two days, Bitcoin has dropped by 3.62%, retreating from the $68,290 range. This was the second attempt this week for BTC to surpass that price level. Currently, BTC has rebounded from $65,512 to $66,458.
Ali Martinez tweeted that Bitcoin is “showing signs of a breakout,” and it may be on track to reach as high as $67,000. BTC must now break through the $66,450 level to continue its upward movement.
#Bitcoin is showing signs of a breakout, possibly heading towards $67,000!
The RSI has already broken its descending trendline, and now $BTC needs to surpass $66,450 to confirm the bullish breakout. pic.twitter.com/nHhNLFmVHp
— Ali (@ali_charts) July 24, 2024
The brief decline in Bitcoin this week coincided with the launch of spot Ethereum exchange-traded funds on stock exchanges.
Bitcoin maximalist Max Keiser tweeted on Tuesday that while the introduction of spot Bitcoin ETFs has solidified BTC’s status as digital gold, Ethereum ETFs may lessen its attractiveness to investors.
The added scrutiny the #Bitcoin ETF brought has INCREASED its appeal as digital Gold.
For ETH it’s the opposite. The added scrutiny will diminish its appeal as investors realize it’s a proof-of-stake Ponzi scheme with a massive pre-mine that insiders are dumping on noobs.…
— Max Keiser (@maxkeiser) July 23, 2024
Once again, Keiser has criticized Ethereum: “It’s a proof-of-stake Ponzi scheme with a massive pre-mine that insiders are dumping on noobs.”
