About 5,000 BTC that had been dormant for the last 7–9 years moved. The founder of Look Into Bitcoin, Philip Swift, said, citing data from the Whale Shadows indicator.
1/ Here we go again. Another 5000BTC that has been dormant for 7-9yrs moved again today. Just like yesterday. See previous tweets.
Live chart: https://t.co/GoCUB7EDLR pic.twitter.com/KRmHWvmTKk
— Philip Swift (@PositiveCrypto) August 30, 2022
In the description of the on-chain tool указано, that historically similar bursts of activity have preceded significant corrections. This is clearly shown in the graphic attached to the next tweet.
2/ Reminder as to why it is noteworthy. Chart showing previous times coins that old and of that size or more were moved.
Live chart: https://t.co/GoCUB7EDLR pic.twitter.com/oun45sxibC
— Philip Swift (@PositiveCrypto) August 30, 2022
At the time of writing, Bitcoin trades around $20,450. Over the past seven days its price has fallen by 4.3%. The total market capitalization of cryptocurrencies stands at around $1 trillion.
Earlier, the head of Capriole Investments, Charles Edwards stated the capitulation phase among Bitcoin miners has occurred.
Read ForkLog’s Bitcoin news in our Telegram — cryptocurrency news, prices and analysis.