March Sees Unprecedented Movement of Vintage BTC

Bitcoins and its all-time high chart

In recent days, bitcoin has regularly hovered above the $60,000 barrier throughout March. With its value skyrocketing, many long-term holders have begun to move large amounts of dormant bitcoins from wallets that haven’t seen activity in years. March has emerged as a critical month for transactions utilizing historical bitcoins.

March Records Significant Transfers

A significant transaction this month involved a single person transferring 3,000 BTC from 60 different wallets created in 2010. Shortly later, another entity from 2015 sent over 2,352 BTC, the first movement of this money since the wallets were created.

The action didn’t end there; 24 hours later, on March 13, a large number of bitcoins from 2013, 2016, and 2017 were mobilized after years of idleness. For example, between block heights 834,426 and 834,427, one entity moved 342.75 BTC from 12 different wallets created in February 2013.

Following this activity, in the next block at block height 834,428, another participant relocated a 50 BTC coinbase incentive from 2010 on the same day. On March 14, 2024, 1,709.43 bitcoins from wallets created in December 2017 were migrated for the first time, between block heights 834,713 and 834,714.

From March 14 to March 19, bitcoins from 2013, 2014, 2015, 2016, and 2017 were transferred from inactive wallets. Vintage BTC transactions in March far surpassed those from inactive wallets in January and February of 2024.

btcparser.com Discovers Transaction

Just two days ago, btcparser.com discovered a transaction in which a 2016 holder transferred 860.45 BTC at block height 835,657, marking the first activity in years. The next day, at block height 835,721, 103.97 BTC from a 2017 inactive wallet was transferred.

Then, on Saturday, March 23, a total of 378.99 historical BTC from 2014 were transferred at block height 835,990. Data from intotheblock.com shows that 93% of BTC holders are profiting at current prices.

Aside from the movement of dormant bitcoins, whales have conducted many large transactions this month. In the previous week alone, BTC transactions surpassing $100,000 reached $156.6 billion in transfers.

Author: Simeon

Simeon is a seasoned crypto writer with a passion for exploring the fascinating world of blockchain and digital currencies. With a background in finance and technology, Simeon brings a unique perspective to his writing, delving into the complexities of decentralized finance, cryptocurrency trading, and emerging blockchain projects.