After Approval of Bitcoin Spot ETF, Nearly 50,000 Dormant BTC Awaken

Cryptocurrency tracker Arkham Intelligence's monitoring data reveals that, in the days following the commencement of trading for the Bitcoin spot ETF, dormant bitcoins worth $2 billion have been transferred through multiple linked addresses. These BTC had last moved in 2019 after being in a dormant state since 2013. Arkham stated, “Historically, these bitcoins have moved at the same time and date.”

Reportedly, these bitcoins have been consolidated from 49 addresses into 5 addresses, each containing between 8,000 to 12,000 BTC. The cumulative holdings across these addresses amount to 49,858 BTC, with a total value of approximately $2.12 billion.