U.Today – Cryptocurrency trader and analyst Ali Martinez, known for frequently posting cryptocurrency price predictions on the X platform, has posted a chart that shows a stunning sell-off as the leading digital currency saw its price rise.
As the price of bitcoin surged 5.25% this morning to $57,520, bearish investors, Martinez revealed, rushed to dump a whopping 14,816 bitcoins, selling them for almost $850,000 million.
He tweeted to his 100 followers: “Short-term #Bitcoin holders took advantage of the recent price rally and sold around $14,816 BTC, which is equivalent to almost $850 million!” sharing data provided by CryptoQuant.
Since Friday, Bitcoin has posted a 7.55% gain, which was followed by a diminutive 1.5% decline earlier today. However, BTC quickly recovered that marginal loss and is currently trading at $57,000.
The whales have certainly increased their activity now that the price of Bitcoin has risen a bit. According to popular blockchain tracker Whale Alert, two huge cryptocurrency transactions involving 4,699 BTC and 3, were spotted about 20 hours ago. These transfers were equivalent to $258,134,540 and $181,243,985. They were transferred between anonymous blockchain addresses.
Dormant Bitcoin wallets have been reactivated
The aforementioned data source also spread the word about an antique Bitcoin wallet that was brought back from nearly 11 years of hibernation. This address contains 19 BTC, currently worth an impressive $1,083,541 in fiat currency.
The past week has seen a series of these dormant wallets coming back to life. On September 9, Whale Alert shared details of a dormant wallet containing 146 BTC worth $8,094,469 on social media platform X. This was a 9,985% raise in value compared to 2013, when BTC was worth $80,257.
On Friday, two dormant wallets came back to life, one of which was last used in 2012, the year around the time Satoshi Nakamoto disappeared from the public radar. That wallet saw a staggering 500,772% raise in value as the price of 31 BTC rose from $362 in 2012 to $1,813,156 in 2024.
