Bitcoin Wallet Awakens After 13 Years, Transfers $3.67B Amid Market Surge

As Bitcoin continues to enter frequently uncharted territory, a previously dormant wallet has come to life after more than a decade of inactivity.

According to popular crypto tracker Lookonchain, a Bitcoin wallet that has been inactive for 13 years has made a significant transaction. The entity, which holds 426.3 BTC worth about $36.62 million, transferred 42.3 BTC. This deposit is valued at $3.67 million.

The wallet originally received the 426.3 BTC on July 29, 2011, when the asset was priced at just $13.49, equivalent to a total of $5,753 at the time. The move has sparked interest due to the long period of inactivity and the substantial value of the funds involved, raising questions about the motivations for such a large transfer, especially at a time when BTC is hovering just above $91,000 .

After posting massive rallies, Bitcoin faced a slight pullback yesterday, but went on the offensive today. It jumped above $90,000 and peaked around $92,000. Its weekly performance is also quite strong, with gains of 22%.

According to QCP Capital, the crypto asset has entered “a new phase”, cementing its position as a treasury asset increasingly held by corporations, governments and institutions.

The trading firm noticed an increase in demand for Bitcoin ETFs, with inflows reaching a record $2.28 billion in just three days. That momentum, fueled by post-US election sentiment, saw $1.8 billion flow into spot Bitcoin ETFs late last week, followed by an additional $1.1 billion in net inflows earlier this week .

“It’s clear: the market is adjusting to new BTC highs and demand has never been hotter.”

The bullish thesis is further validated by popular analyst ‘Rekt Capital’, who predicted that Bitcoin’s bull run could peak in October 2025, based on historical trends where the crypto asset has typically risen at its peak more than 500 days after the halving.

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