₿ Bitcoin wallets that have been dormant for nearly 10 years have awakened: Will the market face the risk of collapse after 14,000 BTC are transferred?
On February 10, about 14,000 bitcoins suddenly "awoke" and were transferred after sleeping for 7 to 10 years! But don't worry, these bitcoins have not been transferred to exchanges, and the holders have not sold them immediately for the time being.
CryptoQuant's analysis said that this kind of thing has happened before, but it does not necessarily mean that Bitcoin will fall. Moreover, the cost price of these bitcoins is relatively low, so holders may not sell them so quickly. The current Bitcoin price is consolidating around US$97,500, and the overall market sentiment is relatively stable.
According to data from Glassnode, retail investors holding less than 1 BTC have recently increased their purchasing power. Since mid-December, they have bought an average of 10,627 BTC per day, an increase of 72% over last year's daily average!
And those big whales holding more than 1,000 BTC began to sell off in large quantities when Bitcoin broke through $100,000 in November, selling an average of 32,509 BTC per day, and the seller pressure was 9 times higher than usual! This shift highlights the divergence of market behavior, as retail investors are aggressively increasing their holdings while whales are diversifying their funds.
But unlike whales, institutional investors have continued to hoard Bitcoin. For example, Strategy (formerly MicroStrategy) resumed its hoarding of Bitcoin after a brief pause.
Strategy co-founder Michael Saylor announced on Monday through X that he recently purchased another 7,633 Bitcoins for $742.4 million, with an average purchase price of $97,255. This brings the company's total holdings to 478,740 Bitcoins, with an acquisition price of $31.1 billion. At the same time, at current prices, the company currently holds more than $46.6 billion in Bitcoin, with a book profit of more than $15 billion.
💬 What do you think? If these 14,000 bitcoins flow to exchanges, will it cause a price impact on the market? Will it trigger a sell-off or attract more buyers? Leave a message in the comment section to discuss!
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