Dormant Massive Bitcoin Whale Awakens After 11 Years: Details

U.Today - According to Blockchain data tracker Whale Alert, a dormant Bitcoin address containing 357 BTC, currently valued at nearly $34,070,177, has been activated after 11 years of inactivity.

Dormant addresses, especially those holding substantial amounts of Bitcoin, often attract attention since they may be linked to early Bitcoin adopters. The reasons behind such long periods of inactivity can vary, ranging from forgotten wallets or hodling of assets.

Given the meteoric rise in Bitcoin price this year, the holder might believe the current market conditions are favorable for either selling or further investment. The holder may potentially be moving funds for security reasons or simply rediscovered the wallet's keys. All this said, the exact reason for the awakening remains unknown.

Bitcoin changed hands at $94,673 as of press time as its momentum slowed after hitting a record high of $108,316 on Dec. 17. The biggest cryptocurrency is flirting with a drop for December, marking its first monthly loss since September.

Despite this, expectations remain in the final days of December for crypto prices. According to Santiment, although trading volume is low, if whales continue their strong accumulation trend, the lack of retail participation may lead to at least one final big unexpected 2024 pump while retail pays little attention.

Bitcoin predictions for 2025Galaxy Research recently issued some predictions for 2025 including those for Bitcoin and the cryptocurrency market.

Galaxy predicts that Bitcoin will cross $150,000 in H1 and reach or exceed $185,000 in Q4, 2025. It believes that a combination of institutional, corporate and national government adoption could boost Bitcoin to unprecedented heights by 2025. Throughout its life, Bitcoin has appreciated faster than any other asset class, particularly the S&P 500 and gold, and this trend is expected to continue in 2025. Bitcoin is also expected to reach 20% of gold's market capitalization.

Galaxy also predicts that Bitcoin will be among the best-performing global assets in terms of risk-adjusted returns in 2025. This year, Bitcoin ranked as the third best-performing asset on a risk-adjusted basis when compared to a basket of equities, fixed-income securities, indices and commodities.

Source: Investing.com