A Bitcoin wallet from the Satoshi era, which had been inactive for over 14 years, has recently been reactivated. Following this revival, it acquired nearly 7,000 $BTC, valued at approximately $470 million.
This significant transaction has sparked curiosity in the market: does this Bitcoin whale possess insights that others lack?
Reawakening of a Satoshi Era Wallet After 14 Years
Blockchain analytics company Arkham Intelligence reported that a wallet known as “Satoshi Whale,” with the address (bc1qq), received a total of 7,068 $BTC, equating to nearly $470 million.
The sudden influx triggered an alert among Bitcoin whales across the market. The activation of such a long-dormant wallet immediately captured the interest of traders and analysts alike.
If whale selling drops below 20%, we might see stronger accumulation beginning. However, if it remains above 25%, Bitcoin could find itself trapped within a range between $65,000 and $75,000 in the near term.
In just the past four days alone, whales have distributed more than 20,000 Bitcoins—approximately worth $1.40 billion.
Bitcoin Price Forecast
Currently trading around $70,260, Bitcoin has experienced a rise of about 5% in just one day. An early TD Sequential buy signal has emerged on its three-day price chart. Analyst Ali Charts notes that this indicator is frequently utilized to detect trend exhaustion.
When a “9” count appears following several consecutive bearish candles, it indicates that selling pressure may be diminishing.
Basing predictions on historical patterns associated with this indicator suggests that Bitcoin could enter into a recovery phase within the next three to nine days.
If it maintains above its recent low near $64,000 levels, bullish traders may attempt to push towards resistance zones around $72,000 and $75,000.