More long-dead BTC moved this week than at any time since just before the $20,000 all-time high in December 2017.
Bitcoin (BTC) dived $3,000 into the morning of April 1 as a widely-predicted pullback seemed to accompany fresh moves by major investors. As revealed by the Whale Shadows indicator, over 11,000 BTC suddenly left its wallet on March 29, having previously sat there for most of a decade.Dormant coins echo December 2017Whale Shadows, coined by analyst Philip Swift, tracks coins that become active again after spending a considerable amount of time out of circulation.Tuned to only record when 100 BTC or more leave their long-term wallet, spikes in the metric have previously coincided with what Swift argues are "major highs" in price."There was a significant movement on-chain yesterday, with +10k BTC that has not moved for the past 7-10yrs finally moving," he noted Thursday. The spike in that age band, described as involving 7-9 year dormant coins on Swift's analytics site, LookIntoBitcoin, is one of the two largest ever in Bitcoin's history.