Two Bitcoin Wallets Reawaken After 14 Years To Move $2.18B In BTC As Analysts Predict New ATH

Two Bitcoin wallets that collectively hold $2.18 billion in BTC were activated on July 3 after over 14 years of dormancy as analysts predict a new BTC all-time high (ATH) soon.

On-chain data shows that the two addresses, “12tLs…xj2me” and “1KbrS…AWJYm,” received 10,000 BTC each on April 3, 2011. These funds were sent from the wallet address “1HqXB…gDwcK,” which transferred another 3,377.83 BTC to a third wallet as well.

Bitcoin Whales

Dormant Bitcoin Wallets See Value Grow From Thousands Of Dollars To Billions

While the smaller wallet seems to have either spent or moved the funds back, the two wallets with 10,000 Bitcoin each had remained inactive for more than 14 years until the movement yesterday. 

During that period, the value of the 20,000 BTC appreciated from $7,800 at the time to $2.18 billion. 

The exact reason for the transfers, as well as other details such as who owns the addresses or if they belong to a single person or a company, remain unknown.

Analysts Predict Bitcoin Will Soar To New ATH In Coming Weeks

The transfers by the addresses could be strategic, as market analysts predict Bitcoin is poised to set a new ATH soon.

According to renowned analyst and trader Michael van de Poppe, BTC could be just 2 weeks away from setting a new record peak.

In a July 3 X post to his over 794,100 followers, van de Poppe wrote that Bitcoin is “ consolidating above $108,000 and I assume we’ll start to see a new ATH in the coming 1-2 weeks with this upwards pressure.” 

Another popular analyst that goes by the pseudonym Rekt Capital on X also highlighted the $108,000 range in a recent post. 

“Bitcoin just needs to stay above $108,890 for the rest of the week to position itself for a bullish Weekly Close above the final major resistance,” Rekt Capital wrote. 

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