Two Bitcoin wallets that had been inactive since 2011 surprised the market by moving 20,000 Bitcoin together - worth over $2.18 billion at current values. Each of them received 10,000 BTC when the price of Bitcoin was only $0.78, resulting in an increase in its value of about 14 million percent. The transactions occurred at nearly the same time and were discovered by on-chain tracking platforms, raising concerns even in the absence of evidence of selling. This movement reinforces the impact that old wallets can have on the market and increases vigilance regarding short-term trends. Although the event is timely, it comes amidst an upward trend, with a strong influx of capital into exchange-traded funds and Bitcoin, surpassing $110,000 in May. The "coin days destroyed" metric has also spiked, indicating that the movement of old coins may signal significant volatility in the future.
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