Two long-dormant Bitcoin wallets from the early days of the network have awakened, moving a combined total of approximately 128.5 BTC worth nearly $10.9 million at current prices, according to blockchain tracking by Galaxy Research.
The first transfer involved 28.46 BTC valued at about $2.43 million, which moved in block 970281 after approximately 15.2 years of inactivity. The address 1EmiMJfyBYNYfeFZWEoXxJ9cZ7pF9xTWVt had held the coins since June 12, 2011. Galaxy Research identified Kraken as the likely recipient, suggesting the funds may have been sent to the exchange. The coins were originally acquired when Bitcoin traded at roughly $15 per coin, representing an estimated gain of about 582,198%.
Separately, 100.02 BTC mined in July 2010 moved on October 7 after more than 16 years dormant. The funds originated from two mining rewards of 50 BTC and 50.02 BTC, including fees, when miners received 50 Bitcoin per block. At the time of mining, the coins were worth about $6; they are now valued at approximately $8.5 million. The transaction split the balance into roughly 10 BTC and 90.02 BTC sent to two addresses, and both balances remained unspent at the time of reporting. Although these coins date to the Satoshi era, no evidence links them directly to Bitcoin's pseudonymous creator. While the movement toward an exchange may signal possible selling pressure, the transfers do not confirm a sale or that the current controller is the original owner.
The movements occurred during a broader market pullback. Bitcoin traded at $83,081, down 3.68% over 24 hours, after touching a low of $82,787 and retreating from an October 5 high of $86,999. Total cryptocurrency liquidations reached $607.18 million, with long positions accounting for $541.14 million and short positions $66.22 million. Investors were also awaiting the release of Federal Open Market Committee meeting minutes, scheduled for 2 p.m. Eastern Time, for further signals on monetary policy.
