BTC Rockets to $96,000 Today (May 7): Long-Term Holders Begin to Move!

Updated

May 7, 2025

Gambar BTC Rockets to $96,000 Today (May 7): Long-Term Holders Begin to Move!

Jakarta, Pintu News – Recently, two long-dormant Bitcoin wallets made a comeback after more than a decade. These wallets moved a total of 3,422 BTC, worth more than $324 million, within a few hours of each other.

Then, how will the Bitcoin price move today?

Bitcoin Price Up 2.60% in 24 Hours

On May 7, Bitcoin reached a price of $96,735 (approximately IDR 1,598,245,555), marking a 2.60% increase over the past 24 hours. During this time, BTC saw its lowest point at IDR 1,545,827,505 and peaked at IDR 1,607,200,881.

According to CoinMarketCap, Bitcoin’s market capitalization now stands at around $1.92 trillion, with trading volume in the last 24 hours also up 33% to $30.98 billion.

Movement of 2 Big Bitcoin Wallets

According to Coingape, the first wallet, which has been dormant since 2012, transferred 2,343 BTC (about $221 million), while the other wallet, which has been dormant for 12 years, transferred 1,079 BTC ($102 million).

💤 💤 💤 💤 💤 💤 💤 💤 💤 💤 A dormant address containing 2,343 #BTC (221,429,323 USD) has just been activated after 11.8 years!https://t.co/0FUfLQ8auo
— Whale Alert (@whale_alert) May 5, 2025

The first transaction was detected by Whale Alert on May 5, which then sparked various theories on Crypto Twitter. The wallet received its Bitcoin more than a decade ago and has had no activity to date.

This week, the wallet moved its entire balance in several transactions, including one large transaction totaling 2,186 BTC. All of these funds landed in a new bech32 wallet, indicating an overhaul but not necessarily a sale.

Adding to the excitement, another long-dormant Bitcoin wallet containing 1,079 BTC worth $102 million also moved after 12 years, according to on-chain data.

Both whale addresses have remained inactive since the early 2010s. In total, these transfers amounted to more than $324 million in Bitcoin, which was built up within a few hours.

These two dormant Bitcoin wallets received their Bitcoin more than a decade ago and have remained silent ever since. This week, the wallets moved their entire balances in a series of transactions, including one large transaction totaling 2,186 BTC.

All of these funds landed in a new bech32 wallet, indicating an overhaul but not necessarily a sale.

Traders Who Monitor Inflows

While conversations on social media often attribute this movement to fears of whale selling or coins from the Satoshi era resurfacing, one market analyst explained that it’s rarely that simple.

The coins are not being sent to exchanges, and this could just be an internal overhaul or access restoration.

Historically, moves like this do not shake the market unless they are followed by inflows into the exchange’s wallet. To date, that has not happened. However, traders continue to monitor wallet addresses, transaction books, and mempools closely, especially with Bitcoin price approaching key resistances.

The transaction fee was only 0.000105 BTC, which is another sign that this transaction was not rushed. The originating wallet is now empty, and the recipient has not made any further moves.

Long-term Holders Start to Move, not Panic

Moves like this suggest that long-term holders may be repositioning their assets as Bitcoin nears local peaks.

Until the coins hit the exchanges, it’s just noise in the system-but the market is watching closely.

As of May 6, there has been no sign of inflows to the exchanges. Coordinated movements from dormant Bitcoin wallets often indicate strategic position shifting by long-term holders rather than a market exit.

$MSTR has acquired 1,895 BTC for ~$180.3 million at ~$95,167 per bitcoin and has achieved BTC Yield of 14.0% YTD 2025. As of 5/4/2025, we hodl 555,450 $BTC acquired for ~$38.08 billion at ~$68,550 per bitcoin. $STRK $STRF https://t.co/rusgfuyCTG
— Michael Saylor (@saylor) May 5, 2025

In parallel, MicroStrategy acquired another 1,895 BTC for $180 million, according to public filings. Michael Saylor’s consistent acquisitions continue to provide bullish sentiment to Bitcoin holders, especially as legacy wallets are now joining the movement.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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