Many “dormant” Bitcoins are gradually being revived and being transferred to new wallets

In recent days, many long-dormant Bitcoins have been activated and transferred to new wallets, attracting the attention of the cryptocurrency community. For example, one wallet that has been inactive since 2015 transferred 44.99 BTC, while another wallet from 2017 transferred 99,999 BTC. Even a wallet created in 2012 transferred 104.99 BTC after 12 years of "hibernation". These transactions, often from old P2PKH wallets to new P2WPKH wallets, show that long-term investors are looking to protect their assets amid market volatility. This event took place in the context of Bitcoin price falling more than 11% from its record peak of $108,000. However, the return of these "hibernated" wallets is also considered an important signal of market volatility. Other legacy Bitcoin wallets were also recently activated, with one from 2018 transferring 8,000 BTC and two from 2013 transferring 1,000 BTC. This raises curiosity about the identity of the owner and its ability to influence the price of Bitcoin. Currently, there are still millions of "hibernating" Bitcoin addresses that have not been activated, containing a large amount of Bitcoin worth billions of dollars.