Satoshi-Era Wallets Keep Returning from Dormancy, and It's Highly Unusual

Several ancient Bitcoin addresses have been activated within a relatively short span of time

from the Whale Alert service, a dormant address containing 24 Bitcoins has been activated for the first time in more than 11 years. This is already the second ancient address that has sprung back to life within the last 24 hours.

Overall, Whale Alert has already recorded 10 re-activated Satoshi-era Bitcoin addresses in July so far, which is an unusually high number. The latest re-activation of an ancient Bitcoin address coincided with the price of the largest cryptocurrency reclaiming the $58,000 level in a hopeful sign for bulls. According to Julio Moreno, head of research at CryptoQuant, new Bitcoin whales are currently in the process of realizing losses. At the same time, market analyst Cole Garner has that the largest Bitcoin whales are currently in"heavy accumulation.

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