{"id":424851,"date":"2022-04-01T10:44:28","date_gmt":"2022-04-01T07:44:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-dormant-for-7-years-moved-right-before-btc-price-dropped-5\/"},"modified":"2022-04-01T10:44:28","modified_gmt":"2022-04-01T07:44:28","slug":"bitcoin-dormant-for-7-years-moved-right-before-btc-price-dropped-5","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-dormant-for-7-years-moved-right-before-btc-price-dropped-5\/","title":{"rendered":"# Bitcoin &#8216;dormant&#8217; for 7+ years moved right before BTC price dropped 5%"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ab7c610b0a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ab7c610b0a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-dormant-for-7-years-moved-right-before-btc-price-dropped-5\/#%E2%80%9D_Bitcoin_%E2%80%98dormant_for_7_years_moved_right_before_BTC_price_dropped_5_%E2%80%9C\" >&#8221; Bitcoin &#8216;dormant&#8217; for 7+ years moved right before BTC price dropped 5% &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-dormant-for-7-years-moved-right-before-btc-price-dropped-5\/#Dormant_coins_echo_December_2017\" >Dormant coins echo December 2017<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-dormant-for-7-years-moved-right-before-btc-price-dropped-5\/#Bitcoin_fails_to_escape_the_Ides_of_March\" >Bitcoin fails to escape the Ides of March<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_%E2%80%98dormant_for_7_years_moved_right_before_BTC_price_dropped_5_%E2%80%9C\"><\/span>&#8221; Bitcoin &#8216;dormant&#8217; for 7+ years moved right before BTC price dropped 5% &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) dived $3,000 into the morning of April 1 as a widely-predicted pullback seemed to accompany fresh moves by major investors.\u00a0<\/p>\n<p>As revealed by the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.lookintobitcoin.com\/charts\/whale-shadows\/\">Whale Shadows<\/a> indicator, over 11,000 BTC suddenly left its wallet on March 29, having previously sat there for most of a decade.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dormant_coins_echo_December_2017\"><\/span>Dormant coins echo December 2017<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.lookintobitcoin.com\/charts\/whale-shadows\/\">Whale Shadows<\/a>, coined by analyst Philip Swift, tracks coins that become active again after spending a considerable amount of time out of circulation.<\/p>\n<p>Tuned to only record when 100 BTC or more leave their long-term wallet, spikes in the metric have previously coincided with what Swift argues are &#8220;major highs&#8221; in price.<\/p>\n<p>&#8220;There was a significant movement on-chain yesterday, with +10k BTC that has not moved for the past 7-10yrs finally moving,&#8221; he noted Thursday.\u00a0<\/p>\n<p>The spike in that age band, described as involving 7-9 year dormant coins on Swift&#8217;s analytics site, LookIntoBitcoin, is one of the two largest ever in Bitcoin&#8217;s history. <\/p>\n<p>The only other time that old coins moved on such a scale was in December 2017 as BTC\/USD hit an all-time high that would remain unbeaten for three years.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/a7317cca-aacc-4595-b0ce-a8bce6d27227.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin Whale Shadows chart. Source: LookIntoBitcoin<\/em><\/figcaption><\/figure>\n<p>Discussing the data on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>, however, opinions varied considerably over the significance of the latest event.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">\u2139\ufe0f  The massive amount of activated dormant <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> in the previous posts are possibly linked to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Cryptsy?src=hash&amp;ref_src=twsrc%5Etfw\">#Cryptsy<\/a> hack\/theft.<\/p>\n<p>\u2014 Whale Alert (@whale_alert) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/whale_alert\/status\/1508880719648632839?ref_src=twsrc%5Etfw\">March 29, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Swift argued that the funds involved were likely tied to a 2014 hack of cryptocurrency exchange Cryptsy, while others disagreed.<\/p>\n<p>Popular user Nunya Bizniz further noted that the spike had occurred after Bitcoin&#8217;s comedown from its latest $69,000 all-time highs, not before.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Past 3 moved prior to substantial corrections.<\/p>\n<p>Why do you think this move is occurring after a substantial correction?<\/p>\n<p>\u2014 Nunya Bizniz (@Pladizow) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pladizow\/status\/1509561042921312268?ref_src=twsrc%5Etfw\">March 31, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_fails_to_escape_the_Ides_of_March\"><\/span>Bitcoin fails to escape the Ides of March<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As Cointelegraph reported, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>etites were keen for Bitcoin to retrace after reaching its highest levels of 2022, gaining as much as 29.4% between its March lows and highs.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin just regained a key price trendline after its longest absence since March 2020<\/em><\/strong><\/p>\n<p>Fellow popular trader Pentoshi nonetheless <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pentosh1\/status\/1509542382081036292\">still entertained<\/a> the potential for a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> over $50,000 next.<\/p>\n<p>For Crypto Ed, however, the outlook was less rosy. Having failed to hold his support zone around $45,000, in addition to the $46,200 yearly open, Bitcoin now faced a deeper retracement and reentry back into its established trading range.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">In case the green box doesn&#8217;t hold, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> will do a full retrace of the previous pump. <\/p>\n<p>Just like every other pump in the current cycle&#8230;.back to the demand zone and bounce. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ovGwuJrBSR\">pic.twitter.com\/ovGwuJrBSR<\/a><\/p>\n<p>\u2014 Ed_NL (@Crypto_Ed_NL) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Ed_NL\/status\/1509617133873152000?ref_src=twsrc%5Etfw\">March 31, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Previously, whales on exchange Bitfinex had caught the market&#8217;s attention with a sell wall near current spot prices, one which bulls nonetheless managed to overcome temporarily.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-dormant-for-7-years-moved-right-before-btc-price-dropped-5\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin &#8216;dormant&#8217; for 7+ years moved right before BTC price dropped 5% &#8220; Bitcoin (BTC) dived $3,000 into the morning of April 1 as a widely-predicted pullback seemed to accompany fresh moves by major investors.\u00a0 As revealed by the Whale Shadows indicator, over 11,000 BTC suddenly left its wallet on March 29, having previously&#8230;<\/p>\n","protected":false},"author":1,"featured_media":424852,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZDUwZDI0NWEtYzcyMi00OWMzLWFiNzktYjU2MjE3NWFlYWQ1LkpQRw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,127418,73785],"class_list":["post-424851","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-cryptsy","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/424851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=424851"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/424851\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/424852"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=424851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=424851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=424851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}