A bitcoin whale has moved 2,000 BTC, valued at $178 million, to Coinbase after holding it since 2010 when the coin was worth just $0.06. The user’s first Bitcoin purchase occurred when the market cap was around $250,000 and trading volume was typically below $60,000 daily. This transfer aligns with a broader trend of dormant bitcoin wallets becoming active following a significant price surge after Donald Trump's recent U.S. election win. Bitcoin is currently trading around $88,532, having previously reached a high of $93,214. The resurgence of older wallets may indicate potential selling activity, although the actual fate of the moved coins remains uncertain. Analysts highlight that between 3 to 4 million BTC may be permanently lost due to irretrievable private keys, complicating the recovery of funds from some early held wallets. The activity may lead to limited upside for bitcoin prices, while some traders are still hopeful of reaching the $100,000 mark as the year closes.

Source 🔗