Ancient Bitcoin Whale Nets $10.6 Million Profit with Massive BTC Sale
• An ancient Bitcoin address of the Satoshi era has sold 514 BTC, making a profit of $10.6 million.
• Dormant addresses are resurfacing and cashing out their BTC for large profits.
• Bitcoin’s price is currently trading above $21,800 and could potentially reach higher levels if it clears key resistance levels.
Ancient Bitcoin Whale Sells All Coins
An ancient BTC address from the Satoshi era recently sold all 514 BTC that had been held since 2017, earning a staggering $10.6 million profit in the process. This move serves as a reminder of how dormant Bitcoin whales can suddenly return to reward themselves with immense gains by selling their coins when the market starts to heat up.
Dormant Addresses Resurfacing
The whale’s sale has sparked a new market cycle which could further cause bitcoin prices to rise away from bearish trends. Long-term holders are now circulating capital to new buyers who are willing to acquire the digital currency at its current prices. Another dormant whale also cashed out 412 bitcoins worth approximately $9.5 million recently, having last used the address back in 2012 when bitcoin was trading at around $12.50 each – indicating significant gains over an extended period of time as well.
Bitcoin Price Rising
Bitcoin has seen its value surge significantly since mid-January, reaching an all-time high of over $24,000 – before facing correction and going lower again since then but remaining above the $21k mark currently.. Analysts suggest that should bitcoin manage to break through critical resistance levels such as near $22,400 or even at trend line zones, this could lead to further increases in its price in the short-term future too.
Key Resistance Levels
Significant resistances exist just past the near-$22,400 area with main resistance being close to $22,500; should this be broken through successfully then this could result in a decent increase in price soon enough while support levels exist towards the mid-$20k region should there be any further drops instead.
In conclusion, we can see that old wallets from years ago are still resurfacing and cashing out on significant profits due to the recent bull run while bitcoin continues to stay above certain key resistance points which may help push up its values even more soon enough – resulting in potentially more rewards for those who invested early on or had long held onto their coins until now..