More 'zombie' bitcoins last active 7-9 years ago moved on Tuesday than on any day since December 2017.
) dived $3,000 into the morning of April 1 as a widely-predicted pullback seemed to accompany fresh moves by major investors.indicator, over 11,000 BTC suddenly left its wallet on March 29, having previously sat there for most of a decade., coined by analyst Philip Swift, tracks coins that become active again after spending a considerable amount of time out of circulation.
Tuned to only record when 100 BTC or more leave their long-term wallet, spikes in the metric have previously coincided with what Swift argues are"major highs" in price. "There was a significant movement on-chain yesterday, with +10k BTC that has not moved for the past 7-10yrs finally moving," he noted Thursday.
The spike in that age band, described as involving 7-9 year dormant coins on Swift's analytics site, LookIntoBitcoin, is one of the two largest ever in Bitcoin's history. The only other time that old coins moved on such a scale was in December 2017 as BTC/USD hit an all-time high that would remain unbeaten for three years.Discussing the data on Twitter, however, opinions varied considerably over the significance of the latest event.
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