Several Bitcoin Addresses Build After 10 Years Of Sleep, Market Begins Panic

Several Bitcoin addresses woke up after 10 years of sleep, the market began to panic (Photo; Doc. The Winning Zone)

JAKARTA - The crypto market has recently been shocked by the rise of several long-sleeping Bitcoin (BTC) addresses. This re-presence raises concerns among crypto enthusiasts.

Whale Alert has attracted the crypto community's attention to the rise of a Bitcoin address that has been sleeping for more than ten years. The address contains 43 Bitcoins which are currently equivalent to about 2.5 million US Dollars (approximately IDR 40 billion) based on the market value of digital assets at the time of writing. Most importantly, Bitcoin has decreased by 3.74% in the last 24 hours and is currently trading at 59,627.62 US Dollars (approximately IDR 974 million).

In mid-March, BTC prices rose significantly, especially as Bitcoin spot ETF inflows soared. This is the time when major crypto assets hit their current all-time high price (ATH), more than US$73,000 (approximately Rp1.1 billion). However, since then, the value of these coins has decreased stably along with fluctuations towards price revival. It is important to note that most wallet and BTC reactivations emerged when Bitcoin began to lose its profits.

According to Coinppe's information, two Bitcoin whole addresses with 16vRqA and 1DUJuH markers that have been sleeping for more than a decade returned to life in May. Incidentally, both addresses contain the same Bitcoin unit (500 BTC) and even sleep within 24 hours of each other. Similarly, an old Bitcoin address that had been sleeping for 5 and a half years reappeared in early June. After being reactivated, the address transferred 8,000 BTCs he received from 6 different transactions to the Binance exchange. At the time of transfer, the Bitcoin was worth about 535 million US Dollars (approximately IDR 8.7 trillion).

One of the old sleeping Bitcoin wallets was also reactivated last week. On June 27, an on-chain tracker Lookonchain revealed that Satoshi's 14-year-old miner wallet had been alive for 14 years. This address also transfers 50 BTC to the Binance crypto exchange.

In general, the crypto market is widely experiencing massive liquidation as investors seek to minimize their losses. According to CoinGlass data, the long position covered by leverage has seen a significant decline recently, impacting the crypto industry.