Bitcoin News
By MikeT
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A dormant Bitcoin wallet, untouched for over 12 years, has suddenly come to life—shifting 306 BTC as Bitcoin prices slid to a recent low.
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Blockchain data reveals the wallet—identified by its “1c5Cb” address prefix—was first funded in 2013 when Bitcoin traded for just $75.
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The transaction didn't involve a centralized exchange, suggesting that the funds weren’t sold immediately.
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This transfer adds to a growing trend of ancient wallet activity. Just two weeks prior, another dormant address moved a staggering $4.
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In April, yet another old wallet holding 50 BTC—acquired back in 2010 when Bitcoin traded at just $0.10—was activated.
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While these legacy holders might be reaping historic profits, their reappearance raises questions about broader market dynamics.
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CryptoQuant Warns of Extended Correction
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On-chain analytics firm CryptoQuant noted earlier this week that Bitcoin could be entering a months-long correction, driven by selling pressure from whales and long-term investors.
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Bitcoin recently reached an all-time high of $123,300 in mid-July but has since retreated by nearly 8% as the market awaits a new bullish catalyst.
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Sean Dawson, Head of Research at on-chain analytics provider Optio Labs, supports this view.
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Interestingly, the original wallet received its Bitcoin through a CoinJoin transaction, a method used to increase privacy by mixing coins from multiple users into a single batch.
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The decision to split the Bitcoin into two wallets instead of transferring it to an exchange also suggests the whale is waiting or transferring ownership discreetly, possibly to…
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Bitcoin whales—entities holding large amounts of BTC—have long been known to influence price direction.
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Long-term holders, in particular, are often considered “smart money” by institutional analysts. When they begin to move or liquidate, it typically precedes meaningful price shifts.
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With Bitcoin still trading near $114,000 and market sentiment in flux, analysts are keeping a close eye on these ancient wallets.
The Currency Analytics
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