Bitcoin price is currently hovering near $115,295, but beneath the surface, a rare on-chain event has captured investor attention. On Thursday, five dormant miner wallets from 2010 transferred 250 BTC, valued at nearly $29.6 million, after 15.3 years of inactivity, according to Arkham Intelligence.
These wallets were part of Bitcoin’s earliest mining era, each receiving a 50 BTC reward when the asset was worth just $0.003 per coin.
Back then, the cost of mining a block was measured in cents. Consumer-grade CPUs performed hashing operations using about 95 watts of power, and U.S. residential electricity averaged 11.5 cents per kilowatt-hour. Mining was more about luck and access than efficiency.
Fast-forward to 2025, and those same coins now represent a life-changing windfall.
The original “1” prefix wallet addresses have now moved their BTC into newer “bc1q” SegWit addresses, an upgrade that enhances transaction efficiency and error handling. Analysts from Lookonchain and Spotonchain suggest these moves may reflect shifting custody strategies rather than immediate selling intent.
Supply-Side Pressure or Just Spring Cleaning?
This isn’t an isolated incident. July has seen a wave of Satoshi-era wallets awaken, transferring thousands of BTC amid rising institutional accumulation and retail speculation. So far, the market has digested these supply-side jolts relatively well. Bitcoin remains up 27% year-to-date, peaking at $118,480, just 4% below its all-time high of $122,838.
But what’s driving these wallet awakenings?
Some analysts see them as a way for long-term holders to shift funds into secure custody or to capitalize on Bitcoin’s recent strength. Others fear these could foreshadow future sell-offs, especially if market sentiment sours or macro uncertainty increases.
While the short-term price impact has been muted, the sudden movement of old coins often precedes volatility. Traders are keeping a close watch on wallet activity, especially in periods of low liquidity, where whale movements can disproportionately affect price.
Bitcoin (BTC/USD) Price Outlook: Bearish Momentum Builds
From a technical perspective, Bitcoin price prediction is showing signs of exhaustion. BTC has broken below the symmetrical triangle that confined price action for much of July, as well as key support at $116,872 and the 50-SMA ($117,713).
Bitcoin Price Chart – Source: Tradingview
Current Price: $115,295
Key Supports: $114,563, $112,901, $110,587
Resistance Levels: $116,800, $117,713, $118,878
RSI: 32 (approaching oversold)
The “three black crows” candlestick pattern has appeared on the 4H chart, signaling strong bearish sentiment. Meanwhile, the RSI hovers below 35 with no visible bullish divergence, confirming fading momentum.
Trade Idea: If BTC fails to reclaim $117,000, traders may consider a short entry near $116,000–$116,500, with a stop-loss above $118,800 and targets near $114,500 and $112,900. Risk remains elevated due to potential fakeouts, so wait for confirmation on any retest of broken support.
Bitcoin Hyper Presale Over $6M as Price Rise Nears
Bitcoin Hyper ($HYPER), the first Bitcoin-native Layer 2 powered by the Solana Virtual Machine (SVM), has raised over $6 million in its public presale, with $6,098,717 out of a $7,004,929 target. The token is priced at $0.012475, with the next price tier expected to be announced soon.
Designed to merge Bitcoin’s security with Solana’s speed, Bitcoin Hyper enables fast, low-cost smart contracts, dApps, and meme coin creation, all with seamless BTC bridging. The project is audited by Consult and engineered for scalability, trust, and simplicity.
The golden cross of meme appeal and real utility has made Bitcoin Hyper a Layer 2 contender to watch in 2025. With staking, a streamlined presale, and a full rollout expected by Q1, $HYPER is gaining serious traction.
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