In a surprising move that shocked observers, two dormant wallets from the “Satoshi” era became active and transferred a total of $325 million worth of Bitcoin, coinciding with market anticipation for the Federal Reserve’s decision on interest rates on May 7.
According to the “Spot On Chain” blockchain analytics platform, the first whale transferred 2,343 Bitcoin to a new wallet after being dormant for more than 10.5 years, valued at approximately $222.2 million. This amount of Bitcoin was purchased in July 2013 at a price of $85 per coin, totaling $185,850.
The second whale became active after more than 11 years of inactivity, surprising the digital markets by transferring 1,079 Bitcoin valued at around $102.5 million. This Bitcoin was accumulated in mid-2013 for $91,713.
Although the motives behind these moves remain unclear, some analysts believe they could be due to the recovery of lost private keys, changes in ownership, or some Bitcoin holders preparing to liquidate part of their investments in light of expected economic changes.
This noticeable activity among Bitcoin whales coincided with an awaited decision from the Federal Reserve, which is expected to keep the interest rate unchanged between 5.25% and 5.50%, continuing the “wait and see” policy amidst economic uncertainty. The coincidence of the awakening of whales and the federal decision suggests that some major Bitcoin holders may be preparing for significant market movements, especially if the comments from Fed Chair Jerome Powell lead to notable volatility.
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