"As the Bitcoin dominance and price on the chart show an upward trend, Bitcoin is preparing for another historic rally and setting a new all-time high. Be cautious with your altcoinbuy trade
Transfer of 56 million dollars worth of Bitcoin from old whale wallets
In recent days, a new wave of movements of old Bitcoins has been recorded on the network. Wallets dating from 2012 to 2017 have transferred a total of 471.8678 Bitcoins, with an approximate value of 56.39 million dollars.
This event follows a recent report about the sudden activation of more than 101,000 Bitcoins that had been dormant since 2011 to 2017, making July one of the busiest periods for the awakening of old assets.
Among these, a wallet created on April 8, 2013, transferred 14.55 Bitcoins worth about 1.7 million dollars for the first time after 12 years and 3 months. Also, another wallet created just two days later moved 181 Bitcoins valued at around 21.6 million dollars.
Other notable cases include the transfer of 90 Bitcoins worth 10.7 million dollars from a wallet dating back to October 2013, as well as the movement of 1 Bitcoin after 11 years and 6 months by an old holder.
Interestingly, five wallets created on February 2, 2012, each transferred 20 Bitcoins; at that time, Bitcoin was valued at only 6.09 dollars, and now their total value is about 11.9 million dollars.
Renowned Analyst: Take Bitcoin's Bullish Patterns Seriously, History is Ready to Repeat!
According to an analysis published by Merlijn The Trader, the Bitcoin price chart in 2025 bears a striking resemblance to the bullish cycles of 2013, 2017, and 2021. In each cycle, there was initially a neutral trend with slow fluctuations, followed by a resistance breakout and, ultimately, a sharp price surge.
In the new chart, Bitcoin's path from 2011 to 2025 is displayed using color blocks, showing three recurring phases: slow accumulation (orange), volatile rise (red), and vertical ascent (green). In the current cycle (2024 to 2025), Bitcoin is once again moving along a trendline, and according to Merlijn, this phase could be the beginning of another surge.
JPMorgan is considering offering cryptocurrency loans. JPMorgan, one of the largest banks in the world, is exploring the possibility of directly offering Bitcoin and Ethereum loans by 2026. The bank has also focused its attention on stablecoins. The potential acceptance of cryptocurrencies as collateral by this major banking institution is seen as a confirmation of traditional financial institutions taking cryptocurrencies seriously.
This decision comes after years of skepticism from Jamie Dimon, the CEO of the bank. In 2017, he called Bitcoin a "fraud" and stated that any employee trading Bitcoin would be fired. In January 2025, he also described Bitcoin as a "Ponzi scheme."
The Bitcoin dominance is in its support zone. If it breaks, it would be a good sign for altcoins and signal the start of an altcoin season. If it holds, it indicates that Bitcoin's price will likely rise again, providing good opportunities for buying Bitcoin. Stay tuned for new crypto market analyses.