Key Takeaways
Do we know who owns the dormant wallet or why the transfers were made?
No, the identity of the wallet’s master remains a riddle wrapped in a cipher. Lookonchain noted the receiving wallet was initially funded by miners 15 years ago-probably the same ones who still think Bitcoin is a “hobby project.” 🤷♂️
How much has Bitcoin’s value increased since the wallet was first funded?
Bitcoin’s value has surged approximately 830 times over 12 years, rising from $135 to $111,800. That’s like turning kopecks into a palace… if you had the patience of a Siberian bear. 🐻
A dormant Bitcoin [BTC] wallet, untouched for over a decade, sprang back to life on the 28th of September, moving $44 million worth of BTC for the first time in 12 years. One might call it a “financial yawn” from a slumbering leviathan. 🦀
Whale moves 400 BTC after 12 years
Blockchain analytics platforms Lookonchain and Arkham Intelligence reported that the wallet address “1ArUG…zwaWT” transferred roughly 400 BTC in mostly equal batches of 15 BTC, effectively emptying the long-idle account. A transactional ballet, if you will. 🕺
The stash was originally funded by miners 15 years ago, though the identity of the owner remains unknown. Perhaps a lost soul from the early days of Bitcoin, now rubbing their hands with glee (or existential dread). 😬
Over the 12-year holding period, Bitcoin’s price has surged roughly 830 times, from $135 to $111,800 at press time. A miracle of modern finance-or a grumpy old man finally cashing in his savings. 💰
What are on-chain metrics suggesting?
On-chain metrics provide further insight into these market dynamics.
Coin Days Destroyed (CDD), which weighs older coins more heavily when spent, spiked in recent days, suggesting long-term holders moved or sold assets to realize profits. A sledgehammer to the market’s skull, perhaps? 🔨
Historically, this activity has marked market tops. Like a drunken sailor shouting “Yarrr!” before the storm. ☠️
However, fresh data pointed to a cooling trend.
CryptoQuant reported that monthly CDD fell from a peak above 1.3 million to around 650,000, below its yearly average. That decline suggested fewer long-term holders (LTHs) were sending coins to exchanges. Maybe they’re just tired of the drama. 😴
Additionally, the Spent Output Profit Ratio (SOPR), which measures the profitability of spent Bitcoin transactions by comparing the selling price to the acquisition price, stood at 1.0053.
Naturally, this indicated that the average profit realized from recent sales was smaller. In fact, on a monthly basis, SOPR fell from 3 (a 200% average profit) to 1.70 (70% profit). A gentle reminder that even whales can’t swim in shallow waters forever. 🐠
Together, these signals imply that LTH is becoming more patient, potentially reducing immediate downward pressure on Bitcoin and signaling a more stable market outlook in the near term. Or maybe they’re just waiting for the next coffee break. ☕
Bitcoin’s price action and more
Moreover, Bitcoin continued its choppy trading, slipping slightly to $112,101.08 over the past 24 hours, down just 0.16%, according to CoinMarketCap. A dance between bulls and bears, but with less enthusiasm. 🐯🐻
While short-term volatility has given bears some control, technical indicators suggest bullish sentiment remains intact.
The Relative Strength Index (RSI) held above 70, indicating bullish sentiment, though its overbought reading hinted at the risk of a short-term pullback. Like a tightrope walker juggling flaming torches. 🔥
Has this happened before?
That being said, this was not an isolated event.
On the 17th of September, another dormant whale moved 1,000 BTC valued at $116.8 million, securing massive profits from its original $847,000 purchase. A financial coup, if you ignore the existential guilt. 😅
Adding to the excitement, on the 15th of September, a Satoshi-era whale swapped 35,991 BTC ($4.04 billion) for 886,371 Ethereum [ETH] ($4.07 billion), fueling Ethereum’s strongest third quarter on record. A love letter written in blockchain. 💘
Together, these developments suggest that while minor corrections may occur, Bitcoin’s broader momentum is poised to favor the bulls. Or, as Gorky might say, “The people endure, but the markets… well, they endure too, just with more drama.” 🎭
Read More
- USD VES PREDICTION
- FIL PREDICTION. FIL cryptocurrency
- USD PLN PREDICTION
- EUR CNY PREDICTION
- JUP PREDICTION. JUP cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- STETH PREDICTION. STETH cryptocurrency
- NEAR PREDICTION. NEAR cryptocurrency
- INJ PREDICTION. INJ cryptocurrency
- USD MYR PREDICTION
2025-09-29 21:41