Throughout March, Bitcoin has demonstrated remarkable resilience, maintaining a steady value above $60,000. This sustained high valuation has triggered a flurry of activity among long-standing Bitcoin holders, resulting in significant transfers from dormant wallets that had remained inactive for years. The month of March has become a pivotal period for transactions involving these vintage bitcoins.
Among the noteworthy transactions observed this month was a single entity’s movement of 3,000 BTC from 60 distinct wallets dating back to 2010. Similarly, another entity from 2015 initiated a transfer of over 2,352 BTC, marking the first movement of funds from these wallets since their creation.
This surge in activity extended beyond individual instances, as evidenced by a series of transactions on March 13 involving bitcoins from 2013, 2016, and 2017, which had been dormant for years. For instance, at block heights 834,426 and 834,427, an entity transferred a total of 342.75 BTC from 12 distinct wallets established in February 2013.
Following this trend, another notable transaction occurred at block height 834,428 on the same day, involving the relocation of a 50 BTC coinbase reward from 2010. On March 14, 2024, 1,709.43 bitcoins from wallets created in December 2017 were moved for the first time, at block heights 834,713 and 834,714.
Subsequent days witnessed a continued influx of vintage BTC transactions, with bitcoins from dormant wallets established in 2013, 2014, 2015, 2016, and 2017 being moved. Notably, the volume of vintage BTC transactions in March far surpassed those observed in January and February of 2024.
Recent data highlighted a transaction where a holder from 2016 moved 860.45 BTC, marking the first activity in years. Similarly, a transaction at block height 835,721 involved the relocation of 103.97 BTC from a dormant wallet established in 2017.
On Saturday, March 23, a total of 378.99 vintage BTC from 2014 were moved at block height 835,990, further contributing to the notable activity witnessed throughout the month. Presently, statistics from intotheblock.com indicate that 93% of BTC holders are experiencing profits at current valuations.
In addition to the resurgence of dormant bitcoins, substantial transactions by whales have been prevalent throughout March. Over the past week alone, BTC transactions exceeding $100,000 each amounted to a staggering $156.6 billion in transfers.
