Bitcoin saw a significant rebound on Tuesday, spurred by remarks from U.S. Commerce Secretary Howard Lutnick, who hinted that President Donald Trump may reconsider recently imposed tariffs. Lutnick suggested that a potential shift in economic policy could come as soon as Wednesday, providing hope for U.S.-Mexico-Canada Agreement (USMCA)-compliant goods.
The market’s positive reaction came amidst another major development in the cryptocurrency world, as a Bitcoin wallet from the early days of the currency — dating back to the Satoshi era — became active after 14 years. Blockchain data revealed that six Bitcoin addresses, dormant since 2011, transferred a total of 250 BTC, valued at over $22 million. The addresses used legacy wallet formats, which were common in Bitcoin’s early days but have since fallen out of use.
When Bitcoin’s early wallets move funds, speculation in the crypto community often follows. These addresses are frequently linked to early miners or even the elusive Bitcoin creator, Satoshi Nakamoto. The movement of coins from these wallets raises questions about whether long-dormant holders are cashing out, if there are potential security concerns, or if historical Bitcoin is being reintroduced into circulation.
Bitcoin had dropped below $82,000 earlier in the week following the imposition of Trump’s 25% tariffs on Mexico and Canada. However, the possibility of tariff relief lifted the cryptocurrency above $87,000. Markets remain cautious as the White House is expected to clarify its stance on trade in the coming days.
Lutnick suggested that changes to tariffs could be announced by April 2, though a full rollback is unlikely. He noted that any changes would focus on balancing the U.S. budget while ensuring economic stability.
Related Topics:
