On-chain data has revealed that a <a href="https://www.cryptoknowmics.com/news/dormant-bitcoin-whale-moves-5-1-million-btc-after-10-years/" target="_blank" rel="noopener">long-dormant Bitcoin</a> whale has reactivated after more than a decade. According to blockchain data tracker Whale Alert, an address containing 41 BTC, valued at approximately $2.6 million, was activated after 10.7 years of inactivity. This sudden reawakening has caught the attention of the crypto community, aligning with ongoing trends in the broader Bitcoin market cycle.
<h3>Bitcoin Market Cycle Insights</h3>
[embed]https://twitter.com/whale_alert/status/1840890755780424049[/embed]

CryptoQuant CEO, Ki Young Ju, provided insights into the Bitcoin market cycle, identifying three distinct stages. The first stage, currently underway, is marked by old whales becoming new whales, as evidenced by the recent activation of previously dormant wallets. The second stage involves new whales transitioning into retail investors, while the final stage sees these retail investors holding onto their Bitcoin long-term, thus becoming old whales once again.

Ju also noted that Bitcoin inflows into exchange wallets remain stable, unlike during previous bear markets, suggesting that market conditions may be more favorable this time around.
<h2>Bitcoin Price Trends</h2>
Bitcoin’s price movement has been relatively steady in recent days. On October 1, Bitcoin retested the $64,000 level, following a monthly close at $63,300, which marked a 7.3% gain for September, the best performance for the ninth month in Bitcoin’s history. The current price sits just under $64,000, with analysts suggesting that the market may be preparing for another upward trend.

<em><strong>Disclaimer: </strong></em>The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Ancient Bitcoin Whale Awakens After 10.7 Years of Dormancy

An inactive Bitcoin wallet containing 41 BTC awakens after 10.7 years, aligning with a Bitcoin market cycle and price trends signaling possible growth.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

Ancient Bitcoin Whale Awakens After 10.7 Years of Dormancy

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