Dormant Bitcoin wallets awaken as BTC Skyrockets to $60,000
Bitcoin, the largest cryptocurrency by market value, topped $60,000, reaching highs of $60,660 in Saturday trading, News.Az reports.
The surge reflected a reversal of September losses amid fears of a weakening U.S. economy.Bitcoin's price rose on Friday, reaching $60,770, its highest level since the beginning of September, as traders became optimistic that the Federal Reserve's next meeting might yield a jumbo-sized rate cut. The gains were sustained till press time with Bitcoin up 3.27% in the last 24 hours to $59,835.
The gains were sustained till press time with Bitcoin up 3.27% in the last 24 hours to $59,835.
As Bitcoin touched the $60,000 mark, on-chain analytics platform Lookonchain reported that seven wallets that have been dormant for over one year and most likely belonging to the same whale deposited 203 BTC worth $12.18 million into Binance some hours ago for a profit of $6.89 million.
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