Bitcoin has just witnessed its largest surge in dormant tokens being traded in over two years. Thousands of Bitcoin wallets that have been inactive for an extended period have suddenly sprung to life, with their coins changing hands.
Analysts believe this significant uptick in activity from long-dormant “whale” wallets could be a harbinger of increased price volatility to come for the world’s largest cryptocurrency.
Historically, such movements from massive Bitcoin holders have preceded periods of wild price swings.
Crypto analyst Ali highlighted the surge, noting over $1.6 billion in Bitcoin was moved to accumulation addresses just in the last week – the largest influx this year.
With Bitcoin already up 128% year-over-year, this jolt of activity from the crypto titans has traders bracing for turbulence.Â
Also read: Avalanche Co-Founder Warns About Risky Layer-2 Crypto Projects
