Hundreds of millions of dollars in Bitcoin “wake up” after hitting ATH in mid-November

On the day the Bitcoin price hit an all-time high (ATH) of $ 69,000 (November 10th), a miner who generated 1,000 BTC from 20 block rewards in 2010 activated 1,000 BTC and 1,000 Bitcoin Cash (BCH). The same entity activated another 1,000 BTC and 1,000 BCH the next day (November 11th). Additionally, on November 3rd, a single block from 2010 was activated with 50 BTC valued at $ 2.3 million.

Sleeping Bitcoin is the address that contains BTC and hasn’t been moved in years.

In November 2021, around 2,050 BTC from 2010 were awakened by a mysterious whale. The same mysterious whale has activated tens of thousands of “sleeping” bitcoins since mid-March 2020.

In November 2011, a total of 11 block rewards with 550 BTC valued at $ 25.8 million were activated and moved to new addresses. So far, in December 2021, a total of 4 block rewards of 200 BTC worth $ 9.3 million from 2011 have been activated. No block rewards were mined in 2010, but 7 blocks from 2012, 14 blocks from 2013 and 5 blocks from 2014 were activated.

Yesterday (December 19) an address dormant since receiving 235 BTC in 2013 is active again for the first time in more than 9 years, triggering two batches of 100 BTC and 135 BTC during the day and publicly that the Transaction was sent with a privacy rating of 0 and that there are “serious” privacy concerns. On Thursday (December 16), another address at 225 BTC activated 25 BTC worth $ 1.1 million in over eight years. None of these whale addresses move Bitcoin Cash (BCH) or Bitcoin SV (BSV).

Sleeping Whale BTC Wallet Address | The source: blockchair.com

“Wake up” does not necessarily mean “sold”

On November 22nd, an address at 187 BTC was inactive for 8 years, transferring 13 BTC and keeping 174.43 BTC. The corresponding BCH and BSV numbers of the wallet have yet to be issued. Another address was activated on November 20 that held Bitcoin for over 8 years, moving a whopping 1,299.98 BTC worth $ 61 million that day, but also not activating 1,299 BCH and BSV.

On November 10 and 11, two more Bitcoin addresses were activated, on November 11, after more than 7 years, an address with 234 BTC was activated and 53.16 BTC was released. The day before (November 10), when BTC hit ATH and a mysterious whale has spent 1,000 BTC since 2010, an inactive address from 2013 transferred 2,207.60 BTC worth $ 103.7 million.

Anyway, the owners of those dormant Bitcoin wallet addresses have decided to transfer their money for the first time in years. It should be noted that the terms “trigger” or “move” in this article do not necessarily mean that Bitcoin was “sold” to a third party for fiat or any other crypto asset.

The so-called “sleeping Bitcoin” may have been sold or just moved to different wallets. Many of these wallets show that Bitcoin is switching from legacy addresses to addresses that support Segregated Witness (Segwit) (Bech32) addresses. Although most of the popular cryptocurrency exchanges around the world support Bech32 addresses and many of these BTC are most likely being sold for fiat.

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