Cryptocurrency experts have recently noticed a spike in activity in Bitcoin and Ethereum wallets that have remained dormant for years. A popular crypto tracking service, Whale Alert, has in particular been monitoring the reactivation of ancient BTC wallets from the days of Satoshi Nakamoto, the mysterious founder of Bitcoin. The service reported that one such address has just been reactivated after 12 years, transferring 1,000 BTC, equivalent to $27 million.

The flurry of activity was initially thought to suggest a bullish sentiment, with investors feeling optimistic about Bitcoin's future prospects, however, it may instead be a bearish move. The crypto-coins were originally moved twelve years ago, and since then, Bitcoin and Ethereum have both seen all-time highs, with their values currently down by around 60% and 62% respectively.

The theory behind the wallet activity is that those who were once part of the community at the time of Satoshi Nakamoto have only just managed to locate their keys and are now cashing out their coins. This speculation was only strengthened by the recent news that the Apple code for Macs contained the Bitcoin whitepaper.People began to wonder whether Steve Jobs and Steve Wozniak, both Apple founders, could have been involved in the cryptocurrency.

The speculation continues, however, the bottom line is that the market is seeing a sell-off from these wallets and prices could continue to be affected. Unless they wake up and start buying, people should be prepared for a possible big sell-off of coins in the near future.



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