Bitcoin Whale Awakens After 12 Years – What’s Next for BTC Price?

Bitcoin Blockchain
Last updated:
Crypto Writer
Crypto Writer
Arslan Butt
About Author

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

Last updated:
Why Trust Cryptonews
For over a decade, Cryptonews has covered the cryptocurrency industry, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Ad DisclosureWe believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships.

In an unexpected turn, a long-dormant Bitcoin wallet containing a substantial BTC stash has become active after 12 years, stirring up discussions among crypto investors and analysts.

The wallet, inactive since 2012, made a significant move, transferring 159 BTC worth approximately $11.75 million—a transaction that highlights the wealth accumulated by early adopters of Bitcoin.

The owner purchased these coins when Bitcoin traded at a mere $10.50, now yielding a staggering profit of around 700,854%.

This development has sparked curiosity about potential impacts on the cryptocurrency market, as well as the motives behind such whale movements.

On-chain data provider Whale Alert brought this transaction to light, alongside a series of recent movements from other long-dormant wallets.

These awakenings from crypto “whales”—individuals or entities holding large amounts of Bitcoin—could have short-term implications for the BTC market, given the substantial holdings involved.

Why Are Dormant Bitcoin Whales Awakening?

Recently, several long-inactive Bitcoin wallets have reactivated, sparking curiosity and speculation within the crypto community.

Among these, a wallet holding 159 BTC (now worth $11.75 million) moved funds after 12 years, likely yielding a return of over 700,000%.

Other dormant addresses have also made transfers, with one moving 20 BTC valued at $1.46 million after 13 years and another shifting 14 BTC ($1.05 million) after 11 years.

These reactivations may stem from various motives:

  • Profit-Taking: High prices present a favorable moment for early adopters to cash out.
  • Liquidity Needs: Some whales may seek cash or diversification amid market volatility.
  • Security and Regulation: Concerns about regulatory changes or access to private keys might prompt activity.

These moves underscore shifts in sentiment and could lead to short-term market volatility as long-term holders re-enter the market.

Bitcoin’s Technical Outlook: Key Levels to Watch

Amid the activity of long-dormant Bitcoin wallets, the BTC/USD trading pair remains under pressure. After testing resistance at the $71,850 level—coinciding with the 23.6% Fibonacci retracement—the price has since retreated, falling below the 50-period EMA near $69,720.

Bitoci

This trend suggests that momentum may be weakening, with the following levels in focus:

  • Immediate Support: The 61.8% Fibonacci retracement level around $68,700 serves as a crucial support point. Should Bitcoin break below this level, the next supports could be at $67,280 and $66,370.
  • Resistance Levels: Immediate resistance is seen at $69,660, with more significant resistance near the previous high of $71,850. Reclaiming these levels could potentially turn the sentiment more bullish.
  • Technical Indicators: The Relative Strength Index (RSI) currently reads 39, indicating a bearish bias. Meanwhile, the 50 EMA around $69,720 has shifted to a resistance level, reinforcing the likelihood of downside risk.

With dormant whales now back in action and Bitcoin nearing crucial technical thresholds, investors may want to monitor price movements closely.

A break below $68,700 could signal further declines, while a push past $71,850 might reignite bullish momentum.

Key Takeaways:

  • Dormant Whales Awaken: Several long-inactive Bitcoin wallets have been reactivated, including one that moved 159 BTC at a 700,000% profit.
  • Market Sentiment Shifts: Whale activity could indicate profit-taking at current resistance levels or reactions to regulatory and security concerns.
  • Technical Levels to Watch: Bitcoin’s immediate support lies at $68,700; a drop below this level could deepen losses, while a reclaim of $71,850 may signal renewed bullish strength.

As Bitcoin moves through a period of heightened whale activity and approaches technical pivot points, the market remains poised for potential volatility.

Pepe Unchained Presale Nears Goal – Secure Your $PEPU at $0.01209 Before Price Increase

Pepe Unchained ($PEPU) is drawing significant attention as the presale approaches its final stages. Currently, the presale has raised $24,231,962.21 out of a $24,810,396 goal, with each $PEPU priced at $0.01209.

Why Invest in Pepe Unchained?

  • Presale Advantage: Secure $PEPU at a lower price before the upcoming increase.
  • Passive Income Potential: Enjoy a 499% APY by staking $PEPU, creating a strong passive income stream.
  • Community Confidence: With 321 million $PEPU tokens staked, investor support for the project is robust.

Pepe Unchained’s smart contract has been fully audited by Coinsult and SolidProof, ensuring secure transactions. Purchases can be made using ETH, USDT, BNB, or a credit card, making it accessible to a broad audience.

With the presale nearing completion, take advantage of this opportunity to invest early and potentially grow your wealth. Buy $PEPU today before the price goes up!

Buy PEPU Here

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

More Articles

Blockchain News
‘Bitcoin Jesus’ Roger Ver Fights Tax Case, Claims Violation of Constitutional Rights
Shalini Nagarajan
Shalini Nagarajan
2024-12-04 07:00:49
Altcoin News
South Korea Hits Record $34 Billion Trade Volume as President Declares Martial Law
Ruholamin Haqshanas
Ruholamin Haqshanas
2024-12-04 06:11:24
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors