A recent Bitcoin ($BTC) activity has grasped the attention of the crypto community. As per the data from CryptoQuant, up to 20K Bitcoin ($BTC) have moved in 2 transfers following a 14-year dormancy. The crypto analyst provided the details of the latest resumed $BTC activity in a recent X thread.
20K Bitcoin Become Active Following 14-Year Inactivity
The crypto analyst has revealed that a couple of transfers have recently shifted up to 20K Bitcoin ($BTC). This has occurred after inactivity for more than 14 years. Based on the historical data, this denotes the longest Bitcoin dormancy up till now. Hence, the respective transactions have sent shockwaves across the crypto community as well as on-chain analytics.
The on-chain data points out that the original value of the respective 20K $BTC was more than $2.18B. However, over the time in dormancy, the respective coins have recorded a massive 2,459x return up till now. Following this huge dormancy, the movement of these coins has triggered notable speculation regarding the motives and identity of the holder.
Market Onlookers Keenly Watch for Impact of Large $BTC Transfer
According to the CryptoQuant analyst, the Long-Term Holder Spent Output Profit Ratio of the holder has spiked amid the realized returns at the ratio of 2,459:1. Additionally, the transacted 20K $BTC presently resides in a couple of exclusive addresses, including “1GcCK…qHCiu” and “bc1qm…8z24g” respectively. Keeping this in view, the market onlookers are continuously observing the latest wallets containing the transacted 20K $BTC and the likely impact of this activity.
