The movement of dormant Bitcoin wallets, where these wallets have been inactive for 11 years, is now becoming more frequent, especially among those that were created 10 years ago or even earlier. The relocation of these long-dormant wallets is of great importance to us. These wallet addresses may have unexpectedly shifted for a variety of reasons, and it is not always a sign of a new bear market.

Whether whales are moving their own Bitcoins to another wallet or a controlled exchange will determine the response. The movement of dormant Bitcoin wallets, where the Bitcoins in these wallets are transferred to someone else, is likely driven by the primary reason of ensuring security. The risk of such acts has grown as a result of recent hacking cases affecting inactive wallets.

💤 💤 💤 💤 A dormant address containing 1,037 #BTC (31,080,234 USD) has just been activated after 11.3 years!https://t.co/6cW9vnTOhD

— Whale Alert (@whale_alert) July 22, 2023

Has a Missing Bitcoin Wallet Been Found?

Before the most recent transaction, the owner of this wallet, who discovered Bitcoin 11 years ago or earlier, had exactly 1,037 BTC. When the Whale first acquired Bitcoin, its price was around $5. The whale did not use the wallet at any point during this time. After eleven years, the wallet made two separate transactions to various Bitcoin addresses.

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The whale transferred all its Bitcoins to two different wallets a few hours ago, indicating a security-driven action. Additionally, during the first movement, the wallet conducted a trial transfer. The possibility of finding these lost Bitcoins after many years should also be considered.

Long-term Bitcoin holders (HODLers) and inactive addresses are both on the rise. According to on-chain data, the number of addresses holding Bitcoin for more than a year has risen to an all-time high (ATH). The quantity of Bitcoin kept on centralized exchanges, on the other hand, is gradually decreasing. This positive data indicates that investors are not considering selling Bitcoin and have confidence in it.

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