BTCs Lying Dormant For Years Suddenly Became Active At Market Peak in Mid-November

A Bitcoin whale was spotted on 19th December (Sunday), 2021. The while operates a Bitcoin address which brought into account at least 235 Bitcoins more than eight years ago in 2013.

At least for Bitcoiners, it is a delightful sight of spotting a Bitcoin whale doing some activity. But the emergence of the Bitcoin whale is a rare phenomenon that happens on the fewest occasions. Normally it happens when the Bitcoin economy is at its peak and apprehending that the time is right for selling some coins.

The bitcoin market was at its all-time highest on 10th November 2021 when the asset tapped the value of US$ 69,000. The same day, the market saw a Bitcoin miner spending more than 10 years old Bitcoins as well as Bitcoin Cash. On that day, the miner utilized a thousand each number of Bitcoin and Bitcoin Cash units. It was noted that the spent Bitcoins were part of Bitcoin Block 20, which is relatively more than 10 years old.

Thereafter, on 11th November, the whale Bitcoin miner re-emerged once again. At this time, the miner spent yet another thousand each Bitcoins and Bitcoin Cash units. Similarly, on 3rd November 2021, another decade-old Bitcoin block became active and spent all the BTCs lying in the block i.e. 50 units. This meant that BTCs worth more than US$ 2.3 Million on that day were spent by an unidentified Bitcoin whale.

Then there were several spotting of Bitcoin whales moving and spending BTCs lying dormant for a number of years. Within this timeframe, the whales moved and spent Bitcoins worth more than US$ 25.8 Million i.e. approximately 550 Bitcoins.

Whales seem to be following some trend as the sightings are becoming very frequent since November to date. In the present month, whales have been seen almost four times spending coins worth US$ 9.3 Million. At this time, the whales spent rewards from approximately a total of 26 blocks. The blocks were from the era of 2010, 2012, 2013, and 2014, however, the blocks for 2010 were not spent. Instead, the whale activated the block only for moving the BTCs lying in there to other addresses.

Today i.e. 20th December 2021 is the 5th time within this month that a whale has been spotted. It was noted that the said Bitcoin address was lying without a single activity since 2010. It, however, contained 235 units of Bitcoins out of which the whale spent only 100 Bitcoins. Even after spending 100 coins, the address is still in possession of 135 units of Bitcoins.

Having spotted a whale does not mean that every time the whale will be spending or selling Bitcoin assets. Many times operators of such old Bitcoin addresses revisit addresses for spending the rewards or moving funds from one address to other. But still, it is a remarkable sight to watch, according to Bitcoin supporters.