Monday, June 2, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Bitcoin Whale Suddenly Moves 3.7k BTC Dormant Since 10 Years Ago

by Index Investing News
November 15, 2022
in Cryptocurrency
Reading Time: 2 mins read
A A
0
Home Cryptocurrency
Share on FacebookShare on Twitter


On-chain data shows a Bitcoin whale has moved a 3.7k BTC stack that had previously been sitting idle since 10 years ago.

Bitcoin Whale Suddenly Transfers Coins Sitting Idle Since 2012

As pointed out by an analyst in a CryptoQuant post, these coins moved by the OG whale had been sitting still since the crypto’s price was just $10.

The relevant indicator here is the “Spent Output Age Bands” (SOAB), which tells us which group in the Bitcoin market is moving how many coins.

Coins are put into “age bands” or groups based on the amount of time they have been dormant for in a single wallet. For example, the 6m-12m age band includes all coins that have been sitting still since between 6 and 12 months ago.

When some of these coins from this group would eventually move to another address, the movement will show up as a spike in the SOAB graph for this age band.

Now, here is a chart that shows the trend in the Bitcoin SOAB specifically for the 7y-10y and 10y+ cohorts over the last year:

 

The value of the metric seems to have been quite high in recent days | Source: CryptoQuant

As you can see in the above graph, the Bitcoin Spent Output value for the 10y+ age band has spiked up in the last few days. In total, the surge amounted to around 3.7k BTC being shifted on the chain

This means that a large number of coins that were previously sitting still for ten or more years have finally been moved.

Generally, such old supply travelling on the blockchain is a bearish signal for the price of the crypto, as it implies some resolute whales have dumped their holdings.

From the chart, this trend is visible, where huge spikes in the Spent Output metric for older age bands (more specifically in this period, the 7y-10y cohort) lead to the price declining.

However, the analyst comments that usually whales sell when the price observes a rise. In the current case, the spike in the metric occurred after the price had already declined.

“These coins have gone through multiple bear/bull markets, halvings, Mt.Gox, Blocksize wars, BTC Forks, COVID-20 capitulation,” notes the quant.

For the whale to sell now of all times after having been through those incidents is puzzling. “Is the outlook less bright than all those major Bitcoin events as I described above?” wonders the analyst.

It’s possible that this latest move was after all, not with the intent of dumping, and was a move made for some other purpose like, for instance, a change of wallets.

BTC Price

At the time of writing, Bitcoin’s price floats around $16.5k, down 20% in the last week.

Looks like BTC is trading sideways around $16.5k | Source: BTCUSD on TradingView
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com



Source link

Tags: 37kBitcoinBTCDormantMovessuddenlyWhaleyears
Previous Post

AIER Leading Indicators Index Remains Well Below Neutral

Next Post

News Flash: Your Business Is Your Product

Related Posts

Shiba Inu Crash To Calm – Is SHIB Forming A Base Below?

Shiba Inu Crash To Calm – Is SHIB Forming A Base Below?

by Godspower Owie
June 2, 2025
0

Shiba Inu (SHIB) not too long ago endured a pointy sell-off, plummeting from $0.00001500 to $0.00001250 between Might 29-30, evident...

An Orb by Delivery: World Launches at-Home Iris Scanning in Argentina

An Orb by Delivery: World Launches at-Home Iris Scanning in Argentina

by Sergio Goschenko
June 2, 2025
0

World, the proof of personhood and pockets platform, will enable customers in Argentina to request a domiciliary iris scan for...

Bitcoin price levels to watch as ‘bear flag’ breakdown targets K

Bitcoin price levels to watch as ‘bear flag’ breakdown targets $97K

by Cointelegraph by Nancy Lubale
June 2, 2025
0

Key takeaways:The emergence of a bear flag on the four-hour chart tasks a Bitcoin worth drop to $97,000.Merchants say BTC...

XChat, new DM feature, adopts Bitcoin-style encryption: Elon Musk

XChat, new DM feature, adopts Bitcoin-style encryption: Elon Musk

by Vivian Nguyen
June 2, 2025
0

Key Takeaways Elon Musk introduced XChat, a direct messaging characteristic utilizing Bitcoin-style encryption and constructed with Rust. XChat contains vanishing...

Is Ethereum Price Gearing Up For A Monster Rally? ETH Up 80% The Last Time This Happened

Is Ethereum Price Gearing Up For A Monster Rally? ETH Up 80% The Last Time This Happened

by Opeyemi Sule
June 2, 2025
0

Trusted Editorial content material, reviewed by main trade consultants and seasoned editors. Advert Disclosure The Ethereum worth has slowed down...

Elon Musk Rolls Out XChat With Rust And Bitcoin-Grade Security

Elon Musk Rolls Out XChat With Rust And Bitcoin-Grade Security

by Aliyu Pokima
June 1, 2025
0

Elon Musk is popping to Bitcoin because the encryption customary for the incoming XChat messaging function. XChat includes a boatload...

Next Post
News Flash: Your Business Is Your Product

News Flash: Your Business Is Your Product

irda gilt trade: IRDA directive to shun brokers for gilt trades baffles insurers

irda gilt trade: IRDA directive to shun brokers for gilt trades baffles insurers

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Costco Wholesale sees 8% net sales increase in Q3 FY25

Costco Wholesale sees 8% net sales increase in Q3 FY25

June 2, 2025
Outrage in Kenya over detention of software developer

Outrage in Kenya over detention of software developer

June 2, 2025
How Many Carbs Should You Eat Daily for Weight Loss?

How Many Carbs Should You Eat Daily for Weight Loss?

June 2, 2025
NetApp, Inc. 2025 Q4 – Results – Earnings Call Presentation (NASDAQ:NTAP)

NetApp, Inc. 2025 Q4 – Results – Earnings Call Presentation (NASDAQ:NTAP)

June 2, 2025
Shiba Inu Crash To Calm – Is SHIB Forming A Base Below?

Shiba Inu Crash To Calm – Is SHIB Forming A Base Below?

June 2, 2025
An Orb by Delivery: World Launches at-Home Iris Scanning in Argentina

An Orb by Delivery: World Launches at-Home Iris Scanning in Argentina

June 2, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Costco Wholesale sees 8% net sales increase in Q3 FY25

Outrage in Kenya over detention of software developer

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In