Satoshi Era Bitcoin (BTC) Miner Wallets Dormant for 15.5 Years Start Transferring BTC

These Bitcoin miner wallets received 50 BTC per block as mining rewards in 2009, according to Lookonchain, an on-chain tracking firm.

Bitcoin (BTC) prices rose to above $63,600 on Friday morning in Asia, inching closer to the key $64,000 level as the dust settles following the U.S. Federal Open Market Committee (FOMC) meeting. Several BTC miner wallets that had remained dormant for more than 15.5 years also began transferring bitcoin on Friday.

Bitcoin Prices Rally to Above $63,600 as Clock Ticks Down to December Options Expiry

Bitcoin prices rose nearly 2% to above $63,600 on Friday, as the clock ticks down to the December options expiry. The world’s largest cryptocurrency reached a high of $64,059 during the early hours before facing some selling pressure.

BTC/USD 15-minutes chart. Source: TradingView

The sell pressure comes as no surprise, especially after the massive rally that saw BTC rally from a low of around $58,000 on Thursday. However, the cryptocurrency managed to hold above the key $63,000 level, setting the stage for another attempt at reaching $64,000.

A clear break above $64,000 could see BTC rally towards the next major resistance level at around $65,000. However, failing to clear the $64,000 resistance could lead to a deeper sell-off, especially if the support at $63,000 also gives way.

Bitcoin Miners Transfer Nearly $16 Mln in BTC as Prices Near $64Kpivotal point in the market as the FOMC meeting concludes and traders await the next directional move.

After clocking in gains of over 5% on Thursday, the BTC price reached a high of $64,059 before facing some selling pressure. At the time of writing, BTC trades at $63,607.42, up 1.97% over the past day and targeting the next resistance level at around $64,000.

Bitcoin prices began the week with a bullish note, rising from a low of $57,867 on Monday to reach a high of $64,000 on Friday morning in Asia. The gains came as the Federal Reserve announced a 50 basis point rate hike, in line with expectations.

Bitcoin prices rose to above $63,600 on Friday morning in Asia, inching closer to the key $64,000 level as the dust settles following the U.S. Federal Open Market Committee (FOMC) meeting. Several BTC miner wallets that had remained dormant for more than 15.5 years also began transferring BTC on Friday.

Bitcoin began the new trading day with a 1.97% gain to trade at $63,607.42 at the time of writing. The 24-hour price chart showed a sell-off after reaching a peak at $64,059 as the BTC price now eyes the next resistance level at $64,000.

The movements come as the clock ticks down to the December options expiry, which could be impacting the price action. Moreover, the 50 basis point rate hike announced by the Federal Open Market Committee (FOMC) on Thursday is also being digested by traders.

Bitcoin miner wallets that had been inactive for over 15.5 years began transferring bitcoin on Friday, with a total of 250 BTC being moved, according to on-chain tracking firm Lookonchain. The wallets received 50 BTC as mining rewards per block in 2009, and the transfer is valued at around $15.9 million at current prices.

address received 50 $BTC($3.18M) as mining rewards per block back in 2009. They collectively moved 250 BTC within the past few hours. This movement was worth approximately $15.9M.

Many miner wallets that remained largely untouched for over 15.5 years are now transferring $BTC!

What could be the reason behind this massive activity?

Any guesses? … pic.twitter.com/HktJivt7Qy

— Lookonchain (@lookonchain) September 20, 2024

The reason for the large transfer of BTC from these wallets is unclear, and it remains to be seen whether these coins are being liquidated or simply moved to different addresses. However, the market observers are keeping a close watch on any potential selloff, as these miners could be looking to capitalize on the surging BTC price, which could halt the post-FOMC rally.

The BTC price gained 1.97% to $63,607.42 at the time of writing on Friday. However, the

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