U.Today – Cryptocurrency trader and analyst Ali Martinez, famous for his frequently published cryptocurrency price predictions on the X platform, has published a chart showing a staggering sell-off as the leading digital currency surged in price.
As Bitcoin surged 5.25% and hit the $57,520 zone earlier today, short sellers, Martinez revealed, were quick to dump a whopping 14,816 Bitcoin, selling it for nearly $850 billion.
He tweeted to his X followers: “Short-term #Bitcoin holders took advantage of the recent price jump to dump approximately 14,816 $BTC, valued at nearly $850M!” sharing data provided by CryptoQuant.
Since Friday, Bitcoin has shown a 7.55% increase followed by a minor 1.5% drop today. However, BTC quickly recovered that marginal loss and is now trading at the $57,000 price level.
Whales have certainly increased their activity now that the price of Bitcoin has risen a bit. According to popular blockchain tracker Whale Alert, about 20 hours ago, two large cryptocurrency transactions were detected, involving 4,699 BTC and 3. These transfers were equivalent to $258,134,540 and $181,243,985. They were transferred between anonymous blockchain addresses.
Inactive Bitcoin wallets have been reactivated
The aforementioned data source also spread the news about an ancient Bitcoin wallet, which was recovered from a nearly 11-year hibernation. This address contains 19 BTC, which is currently worth a staggering $1,083,541 in fiat currency.
Over the past week, there has been a surge in new ways for these dormant wallets to be reactivated. On September 9, Whale Alert shared on social media platform X data about a dormant wallet containing 146 BTC worth $8,094,469. This was a 9.985% increase in value compared to 2013, when this BTC was worth $80,257.
On Friday, two dormant wallets came back to life, with one of them last used in 2012, the year around Satoshi Nakamoto’s disappearance from the public radar. That wallet showed a staggering 500,772% increase in value as the price of 31 BTC soared from $362 in 2012 to $1,813,156 in 2024.
This article was originally published on U.Today
