U.Today – Shocking on-chain data reveals that a dormant Bitcoin wallet has suddenly come back to life after an impressive 10.7 years, showcasing an unbelievable 8,844% gain. This wallet, which had been inactive for over a decade, has now captured the attention of the entire cryptocurrency world.
According to Whale Alert, a leading blockchain data tracker, “A long-dormant address holding 19 BTC valued at $1,185,944 has been reactivated after 10.7 years, with a value of $13,259 in 2013.”
In 2013, the Bitcoin wallet was last valued at $13,259. Fast forward to 2024, and the value of the wallet has skyrocketed to an incredible $1,185,944, marking an extraordinary 8,844% increase. This remarkable growth highlights the tremendous surge in Bitcoin’s price over the past decade.
The resurgence of dormant wallets can have various explanations: it could indicate that the owner is seizing an opportunity in the market due to a significant surge in wallet value, or it could simply be a case of a long-lost wallet being rediscovered.
Bitcoin Bull Run Continues as Price Surpasses $61,000
The cryptocurrency market is witnessing a strong recovery, with Bitcoin surging to a high of $61,457 in today’s trading session. According to Santiment, investor sentiment has turned increasingly bullish for most top cryptocurrencies since the price bottom on August 5, and Bitcoin has surged over 19% since that alarming crash.
Bitcoin found support near the $56,000 level and has now broken above the $58,000 resistance, reaching $60,990 with a 4.03% increase in the last 24 hours and a 3.05% gain for the week.
Bitcoin’s next resistance level is at $61,407, aligned with the daily SMA 50, followed by the daily SMA 200 at $62,844. On the downside, immediate support can be found near the $59,500 level, with a key support level at $58,500.
Recent data from Santiment shows that Bitcoin whales, particularly wallets holding between 100-1000 BTC, have accumulated an additional 94,700 coins in the past six weeks. As market uncertainty has driven many traders away from cryptocurrencies, major stakeholders are increasing their holdings.