According to U.Today, several dormant Bitcoin addresses have been reactivated today, marking a significant event in the cryptocurrency market. Data from Whale Alert reveals that addresses containing 130 BTC ($8.42 million), 25 BTC ($1.62 million), and 184 BTC ($11.92 million) have come back to life after being inactive for over ten years. The oldest of these addresses, identified as '1NidF,' was first activated on December 18, 2012. Initially, it acquired 99 BTC, followed by an additional 85 BTC two weeks later, at a total cost of $12,000. The current profit for this address stands at an impressive 99,354.5%, or $11.91 million.
The reactivation of these addresses has sparked discussions among market participants. Conventional wisdom suggests that such movements are bearish, as old holders might be waking up to take profits, especially when their gains reach thousands of percentage points. However, there is also speculation that the reactivation could be due to legacy Bitcoin users wanting to change their storage methods or wallet types.
In related news, the price of Bitcoin reached $66,000 today, following a dip to the mid $50,000s less than a week ago. This price movement has been accompanied by a shift in market sentiment, which was previously negative. The current price is still below Bitcoin's all-time high of $74,000, but if the cryptocurrency continues on its current trajectory, reaching that peak again does not seem out of reach.
