As revealed recently by Whale Alert, a Bitcoin wallet has been activated after around 10 years of staying in deep slumber. The popular crypto tracking Twitter bot has reportedly detected and activated a Bitcoin wallet that has been unresponsive for over nine years.
Whale Alert Reports Wake Up of a Bitcoin Wallet After 9 Years
As reported by Whale Alert, the wallet contains 791 BTC, which is equal to $26,147,621 at the price of the flagship cryptocurrency today.
Moreover, the wallet was set up just after the creator of Bitcoin went off the radar, even after his presence was still there.
When Whale Alert posted this, some Twitter users joked that the owner of the wallet has somehow managed to log in to his wallet after 9 years of unsuccessful attempts to recover it.
In addition to this, it should be noted that back in the month of February and March, large amounts of Bitcoin undisturbed since the Satoshi era, were reportedly moved by their respective owners.
As witnessed in the past, when big amounts of BTC were shifted by the miners from their old wallets, this gave a rise in the volatility in the BTC exchange rate.
BTC Plunges Significantly and Reached a Low of $32,658
Since May 19, Bitcoin has been trading inside a range between $31,300 and 40,550, and at present, it is residing in the lower segment of this range.
If the technical indicators are to be observed, then they are leaning towards the bearish patterns.
As revealed in the six-hour chart of the cryptocurrency, it was witnessed that BTC managed to broke out from a descending resistance line. However, the bullish pattern was not able to keep up and slipped below the support line.
Also, as both the RSI and MACD are falling, it should be noted that the six-hour indicators are bearish.