Vintage 2016 Bitcoin Wallet Moves 600 BTC as Price Falls Below $100K
On Thursday, blockchain records show an address that accumulated about 600 BTC in 2016 transferred its holdings for the first time in over nine years, coinciding with bitcoin slipping back beneath the $100,000 level. At that price, 600 BTC would be roughly $60 million, though the exact dollar value depends on intraday rates; the receiving addresses and intent were not immediately clear.
Dormant wallets reawakening often trigger market speculation because such large moves can signal selling, consolidation, or simple security housekeeping by long-term holders. Traders and on-chain watchers will be monitoring exchange inflows and subsequent on-chain activity to see whether the coins hit markets or are redistributed to cold storage, any of which could influence short-term liquidity and price action.