On-chain data shows that 7 miner addresses that originated in the early days of Bitcoin have resumed activity after a period of inactivity of about 16.5 years, transferring a total of 350 BTC. At current prices, this amount is valued at approximately 28 million US dollars. Since these coins came from mining rewards from March 2010, this movement has quickly attracted market attention.
Funds come from miner rewards from 2010.
Public chain records show that each of these 7 addresses transferred out 50 BTC, which corresponds to the mining reward for a single block in that year. Shortly after the Bitcoin network went live in January 2009, the block reward was still 50 BTC. Therefore, this batch of assets has distinct characteristics of "ancient miners".
Calculated at the price mentioned in the text, each of the 50 BTC tokens in each address is currently worth nearly 4 million US dollars. Such early-stage addresses rarely experience transactions, so even though the amount is not particularly large, it is still regarded by the market as an event on the chain that is worth tracking.
Not yet displayed as flowing to exchanges
At present, it is not possible to directly determine whether the holder is prepared to sell based solely on the transfer itself. The report mentions that it is only when the relevant funds further flow into exchanges or other clear liquidity venues that the market is more likely to interpret it as potential selling pressure.
In terms of scale, 350 BTC do not stand out compared to the daily trading volume of Bitcoin. Therefore, the focus of this unusual movement is not on the absolute amount, but rather on the long-standing origin of the funds. If these Bitcoins remain in private wallets, the event is more of a rare, historic-level activity on the blockchain.
Bitcoin once rose above $81,000
In terms of price, at the time of the report's release, Bitcoin was trading at around $79,850, and at one point during the session it rose above $81,000. The article mentions that Bitcoin is still above both the 20-day and 200-day moving averages, indicating that the overall trend has not been disrupted following the previous rebound.
However, the range of $81,000 to $82,000 is still considered a short-term resistance level. In other words, although these movements in ancient addresses are eye-catching, without evidence of subsequent inflows into exchanges, their actual impact on the short-term supply side remains limited.
