that the cryptocurrency\u2019s monthly bull flag now has a price target of $100,719.\u00a0<\/span><\/p>\nFeatured image from CNBC, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"According to on-chain data, a dormant Bitcoin (BTC) wallet created over a decade ago has suddenly reawakened, transferring over $1 million worth of BTC to an unknown address. This unexpected yet substantial transaction comes as Bitcoin\u2019s price surges past $64,000.\u00a0 Related Reading: Floki Has \u2018More Room To Climb,\u2019 Targets 96% Rally \u2013 Analyst Decade Old Bitcoin Wallet Springs Back To Life\u00a0 An old Bitcoin wallet established 10.7 years ago has executed a large-scale BTC transaction on August 19. Blockchain tracker and analytics system, Whale Alert, disclosed on X (formerly Twitter) that the address had contained 19 BTC, worth about $13,259 in 2013.\u00a0 The Bitcoin wallet which has been inactive for years, most likely due to strategic HODLing, now boasts impressive gains of about 8,844%, fueled by the cryptocurrency\u2019s consistent yet dramatic price increase since 2013. Additionally, the sudden wallet activation comes as Bitcoin\u2019s price surges past the $64,000 price mark after experiencing a significantly bearish phase.\u00a0 With Bitcoin\u2019s current price, the 19 BTC moved by this decade-old wallet address is now worth over $1,185,944, marking a significant profit with a gain of $1,172,685. The transaction records also show that the anonymous sender transferred the Bitcoin to an unknown address, incurring a fee of 0.000047 BTC.\u00a0 Typically, when a Satoshi era Bitcoin wallet suddenly springs back to life, it often indicates a potential for increased market activity. Dormant wallets that move substantial amounts of Bitcoin tend to impact market liquidity and price movements. Meanwhile, smaller Bitcoin transactions could capture the interest of the crypto community, prompting speculations.\u00a0 Bitcoin Turns Bullish With $64,000 Price Surge\u00a0\u00a0 Over the past few months, the price of Bitcoin has struggled to rebound to its March all time high of more than $73,000. The cryptocurrency witnessed sudden price crashes and constant fluctuations due to large scale market liquidations and shifts in investor sentiment.\u00a0\u00a0 After a long period of consolidation, Bitcoin is finally showing signs of a bullish rebound. CoinMarketCap\u2019s data shows that the cryptocurrency surged by 5.33% in the last 24 hours, and is now trading at $64,311. Over the past week, Bitcoin also recorded an 8.6% increase, underscoring the cryptocurrency\u2019s renewed strength and potential for a major price recovery.\u00a0 Many analysts are viewing the cryptocurrency\u2019s steady price increase as a bullish signal, potentially indicating a substantial price reversal from bearish trends.\u00a0 Popular crypto analyst, Ali Martinez noted in an X post that the Bitcoin bull-bear market indicator has oscillated between bearish and bullish since early August. However, with the cryptocurrency experiencing new price gains, the indicator has now switched back to a bullish stance.\u00a0 Related Reading: Stacks: New Developments Push STX Price 18% Higher \u2013 Details Additionally, a crypto market expert identified as \u2018Milkybullcrypto,\u2019 highlighted that Bitcoin is finally breaking out of the bullish reversal price pattern. He emphasized that the cryptocurrency\u2019s monthly bull flag now has a price target of $100,719.\u00a0 Featured image from CNBC, chart from TradingView<\/p>\n","protected":false},"author":594,"featured_media":637627,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1020,1119,1144,12931,1558],"class_list":["post-637618","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-blockchain","tag-btc","tag-btcusd","tag-crypto-wallet","tag-cryptocurrency"],"acf":[],"yoast_head":"\n
Bitcoin Wallet Dormant For A Decade Reawakens<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n