Dormant Bitcoin Address Boasts 25 BTC
According to the BTC wallet held 25 BTC, which was valued at $1.71 million. This wallet has been inactive since 2013 when Bitcoin’s value hovered between $100 and $266. It was an exciting and tumultuous year for Bitcoin, as its price dropped to $50 before recovering to $100. With Bitcoin’s value at less than $1,000, the wallet’s owner holds a sizable stash after the coin’s meteoric rise in the last few years.💤 A dormant address containing 25 (1,711,020 USD) has just been activated after 10.8 years! — Whale Alert (@whale_alert)The whale’s reactivation of the wallet comes when This isn’t the first time that BTC flirted with this level. If we can remember, Bitcoin rallied to over $70,000 in July, setting up a crypto frenzy in the industry. While Bitcoin failed to sustain its $69k price, it remains solid, staying within the $68k to $69k level in the last few days. Speculators and industry watchers also expect BTC to hit the $70k level soon, backed by the increasing demand for crypto. Bitcoin traded at the $70k level on June 12th.
BTC Pulls Back
This week, Bitcoin failed to sustain its momentum and has slightly dipped to $68,399 after hitting a high of $68,689. According to Bloomberg, BTC investors have added over $1.8 billion this week to spot Bitcoin ETFs.Featured image from Pexels, chart from TradingView