A Bitcoin wallet inactive since 2010 has made a significant move by transferring 2,000 BTC, now valued at $180 million, to Coinbase, one of the leading cryptocurrency exchanges. This event is noteworthy as it involves a Satoshi-era wallet, which refers to Bitcoin that has been in existence since the time of Bitcoin's anonymous creator, Satoshi Nakamoto.
The transfer coincides with an impending expiration of roughly $4 billion in Bitcoin and Ethereum options. Options expiry periods can often lead to increased market volatility as traders adjust their positions, leading to potential price swings. The market's reaction to this large transfer and corresponding options expiry may be keenly observed by investors and analysts.
Lookonchain, a popular blockchain tracking service, reported this significant transfer of Bitcoin from the dormant wallet. The sudden movement of long-held Bitcoin alongside major options expiries raises concerns and speculations about possible impacts on the cryptocurrency's market stability and future price directions.
