Another 1,000 BTC idle since 2010 have moved

An unknown mover moved 1,000 BTC that had lain idle since 2010. This is the ninth such transaction since the start of 2020, according to the Telegram channel Goldfoundinshit.

Source: Blockchair.

All movements followed a similar pattern — the coins earned as block rewards were consolidated into 1,000 BTC on a single address, and then split into 10 BTC outputs. Goldfoundinshit suggests the bitcoins belong to a crypto exchange or entities affiliated with it.

Source: Goldfoundinshit.

Earlier in Glassnode they noted that starting from the analogous transaction of December 28, 2020, all movements of large lots of old coins almost perfectly coincided with local price tops, after which the price tended to fall.

A couple of old coins moved today – nothing new, happens regularly.

Here’s what you should keep your eyes on: OG miners (+10 years) moving chunks of 1,000 BTC (20 outputs) to exchanges since December.

Near-perfect local tops.#Bitcoin@glassnode chart: https://t.co/N5P2eXn2AR pic.twitter.com/o4QrnUlKBz

— Rafael Schultze-Kraft (@n3ocortex) February 24, 2021

The latest 1,000 BTC tranche is being moved amid falling prices, the Telegram channel noted, pointing out that the earlier such transaction in March 2020 occurred on the eve of a market crash.

Source: Goldfoundinshit.

However, as of writing, the previously split into 10 BTC batches have been motionless for several hours, and in earlier cases they were moved to withdrawals more quickly, Goldfoundinshit stressed.

Earlier, on Wednesday, February 24, пришли в движение 2189 BTC, consolidated at an address dating to 2013.

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