A long-dormant Bitcoin (BTC) whale has emerged after more than a decade of inactivity, according to whale-tracking bot Whale Alert. Whale Alert finds that the address, which was last active in October 2010, recently moved 489 Bitcoin worth over $20 million at time of transfer. The deep-pocketed investor moved the crypto assets to an unknown wallet. The last time the inoperative address was functioning, Bitcoin was trading at a price of about $0.17. The top crypto asset by market cap has appreciated a staggering 23,150,500% during the time the address’s period of inactivity. Public speculation tends to spark after large dormant Bitcoin wallets come alive as people start to believe the possibility that they contain Satoshi coins, or BTC belonging to the pseudonymous founder of the flagship digital asset, Satoshi Nakamoto. Satoshi’s whereabouts and identity remain unknown. His last public message was posted in December 2010 on the Bitcoin Talk online forum , a few
Popular crypto analyst Benjamin Cowen says one on-chain metric suggests Bitcoin’s bull cycle is likely to continue. In a new YouTube video, Cowen examines BTC’s Realized Marketcap To Thermocap Ratio, Realized Marketcap is Bitcoin’s cost basis times the supply and the Thermocap is the sum of daily Bitcoin miner revenue in US dollars. Cowen notes that in past BTC bull market cycles, the ratio has hit new all-time highs. That hasn’t happened yet in the current cycle, according to the analyst. “If you look at this metric, the Realized Marketcap of Bitcoin divided by the Thermocap, this is what you get. One of the interesting things is that [in] this market cycle we have not seen a higher high on this metric, at least not yet… When looking at this, you know you have to wonder: Is there more coming? I mean obviously, we’ve spoken about lengthening cycles for a long time, but even if lengthening cycles play out, I… imagine it won’t likely be obvious until either the end
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