Dormant Bitcoin (BTC) Wallet Holding 190 BTC Reactivated After 11.4 Years, Realizing Staggering Gains of 94,700%

Dormant Bitcoin wallets — those that have remained inactive for years — often garner significant attention when reactivated as these wallets are typically associated with early Bitcoin adopters or miners.

A long-dormant Bitcoin (BTC) wallet has been reactivated, revealing a 94,700% gain on an initial investment made over a decade ago.

According to Wu Blockchain, citing data from Whale Alert, an address holding 190 BTC, currently valued at $11.49 million, was activated earlier today after remaining dormant for 11.4 years.

As noted by the crypto news outlet, when the Bitcoin stash was last moved in 2013, these 190 BTC were valued at $12,125. Fast forward to today, and the value has surged by an astonishing 94,700%, reflecting a 947-fold increase.

Dormant Bitcoin wallets — those that have remained inactive for years — garner attention when reactivated, as these wallets are typically linked to early Bitcoin adopters or miners.

The sudden activation of this address raises questions about the whale's intentions — whether it intends to sell, hold, or transfer the Bitcoin stash. In this case, the whale’s intentions remain unknown yet and the market is still on alert for any subsequent movements.

Bitcoin’s short-term outlook

Meanwhile, BTC is nearing a death cross, a technical pattern that occurs when the 50-day simple moving average (SMA) falls below the 200-day SMA, which is often interpreted as a bearish signal.

However, Bitcoin whales appear to be signaling a bullish outlook. According to on-chain analytics firm IntoTheBlock, BTC recorded a net outflow from exchanges of $1.7 billion in the past week, the highest level in over one year. This suggests that large whales may be accumulating Bitcoin during the recent downturn.

Bitcoin's new addresses also show renewed interest. According to IntoTheBlock, the number of daily new addresses has declined since November 2023, indicating fewer new participants, particularly in retail.

But the trend seems to be shifting, as the number of new addresses has increased in recent weeks. This trend indicates a growing interest from retail investors, which could help stabilize the market and create a stronger foundation for the next phase of growth.

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