With the leading cryptocurrency Bitcoin surpassing the $29,600 level, the crypto market is experiencing a new surge. Whale Alert drew attention to a Bitcoin address that has been active for approximately 13 years. According to the data shared by Whale Alert, an address holding over 1,000 BTC, worth around $30 million at current prices, has become active again after about 13 years.
Is a New Selling Pressure Coming to BTC?
The crypto market started to rise as the leading cryptocurrency Bitcoin surpassed the $29,600 level and approached the $30,000 level again. Ethereum (ETH) started trading above $1,850, thanks to its recent price increases.
The total market value of the crypto industry has reached $1.18 trillion, according to CoinMarketCap (CMC) data. Many high market cap cryptocurrencies such as BNB, Cardano (ADA), and Solana (SOL) recorded various levels of price increases throughout the day. However, while this uptrend continues in the market, Whale Alert pointed to a Bitcoin address that became active after about 13 years. The reactivation of the address holding over 1,000 BTC in its portfolio has led to speculations about a potential new selling pressure in BTC.
Whale Alert Shares Updated Data
Whale Alert, which shares updated data on large-scale transactions carried out by addresses known as “whales” in the crypto ecosystem, drew attention to a Bitcoin address that became active again after about 13 years. According to the latest data shared by Whale Alert, an address holding over 1,000 BTC, worth around $30 million at current prices, has become active again after about 13 years.
There has been a significant increase in the number of addresses that have been inactive for a long time and have recently become active. Many crypto analysis platforms have stated that possible selling transactions that can be carried out by these reactivated addresses may create a new selling pressure on BTC.
