Unlocked Bitcoin Wallets Reveal $856,331,166 Movement: Insights
In the world of cryptocurrency, recent events have caught the attention of investors and analysts alike.
Firstly, it's worth noting that there is no publicly available information specifying who last brought activated Bitcoin from old wallets into circulation before September 4, 2022. This activation of old Bitcoin, which is aged between three and five years, suggests it was acquired between 2020 and 2022 when the Bitcoin price traded at less than $20,000. The movement of these BTC might be due to a shift to a more secure wallet or potential selling, given the significant gains on the holdings.
Whale Alert reported a similar move of 7,625 BTC worth $859,861,898 transferred from Coinbase to an unknown new wallet. According to Maartunn, a community analyst at CryptoQuant, this 7,626 BTC is from after the Satoshi Era (since 2011).
The financial and market information provided is intended for informational purposes only and is not liable for any financial losses incurred while trading cryptocurrencies. It's important for readers to conduct their own research and consult financial experts before making investment decisions.
In other news, the Securities and Exchange Commission (SEC) has blamed tech failures for the loss of nearly a year of Chairman Gary Gensler's messages. Meanwhile, the market is waiting in anticipation of a major job release, while betting on a potential rate cut in September.
Unfortunately, jobless claims rose to 237,000, up 8,000 from the prior week and above estimates. Private payrolls increased by just 54,000 in August, below the expected 75,000, a drop from the gain of 106,000 seen in the prior month. Weaker jobs data release on Thursday raised concerns about a labor market slowdown.
On the positive side, Bitcoin was trading up 1.09% in the last 24 hours, with a price of $112,241. The digital currency also saw a 2.41% increase in the last week.
Interestingly, September has a historical bearish trend for Bitcoin. However, the URPD indicator shows that investors accumulated Bitcoin in the range of $108,000 to $116,000, according to Glassnode.
Lastly, it's important to remember that the opinions expressed by writers on U.Today do not represent the views of the platform. The content is accurate as of the date of publication. U.Today is not responsible for any outdated offers mentioned in the content.
As always, stay informed and make wise decisions.
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