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With bitcoin staying solid above the $74,000 mark, a wave of long-dormant bitcoins from years past has suddenly come to life as the price edges higher.
Dormant Bitcoin Vaults Open as the Price Climbs Higher
Bitcoin (BTC) hit a fresh all-time high, with prices reaching $75,397 per coin on Bitstamp, setting new excitement across the crypto landscape. The current price is hovering near $74.5K, sparking a movement among some long-idle bitcoin. Notably, as BTC reached its peak, one user moved 156.0801 BTC from an address untouched since its creation on July 29, 2017.
Back then, bitcoin was trading at $2,726, making the stash worth about $425,474. Today, that same cache of over 156 BTC commands an impressive $11.6 million at current rates. Blockchair assigned this transfer a privacy score of 50 out of 100, citing software-related privacy limitations and the repeated use of the same address in inputs. Besides the 156 BTC from 2017, another dormant wallet from 2013 came to life, sending over 100 bitcoins from deep slumber.
At block height 869,116, the user transferred around 109.44 BTC, marking its first move since Mar. 14, 2013. The funds were split into various amounts and sent in separate transactions, all confirmed in the same block. These transactions also earned a low privacy rating, scoring 45 out of 100 on Blockchair, suggesting the funds were likely moved from a legacy wallet to a new Pay-to-Script-Hash (P2SH) address.
As bitcoin’s value continues to climb, once-dormant wallets stirring to life hint at a deeper trend: long-term holders may be reevaluating strategies amid the market’s shifting price fluctuations. This renewed activity not only underscores bitcoin’s resilience but also raises questions about how veteran holders respond to peaks, suggesting a watchful eye on future price movement with a low preference toward privacy considerations.