Bitcoin is still pushing a price recovery on its quest to return to the $70,000 price level. This has seen the cryptocurrency now trading above $69,000, up by 1.6% in the past 24 hours. This price fluctuation has occurred in the middle of increased accumulation activity from some whales and some short-term holders.
Blockchain analytics platform Lookonchain has revealed an instance of whale activity on social media. An interesting transaction came from a whale wallet which recently woke up after 10 years of dormancy to transfer 246 BTC worth $16.73 million.
Bitcoin Whale Wakes Up From 10-Year Slumber
The Bitcoin blockchain is home to a vast number of early investors with large amounts of BTC that have remained dormant for many years. In fact, the re-ignition of dormant Bitcoin addresses has been sporadic for the past six months, particularly as the price of Bitcoin surged to new all-time highs and with most causing a stir and rising interest amongst Bitcoin investors.
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