Recently, two long-dormant wallets became active by transferring all their holdings to Bitcoin (BTC)
This event coincides with a drop in key chain metrics and an increase in greed levels in the Bitcoin market.
According to the latest data from Lookonchain, two Bitcoin wallets that have been inactive for nearly 11 years have suddenly become active. Each of these wallets that acquired tokens when the price of $BTC was $124 contained 500 BTC, and at the time of acquisition each wallet was valued at approximately $62,000.
However, at the current price of BTC, these wallets have unloaded their entire holdings for over $30 million each, totaling around $60.9 million.
What's more, this significant move has prompted questions about the potential reactions from the chain's key metrics, which have recently seen a decline.
According to Santiment data, Bitcoin has seen a decline in daily active addresses, transaction volume and whale transactions.

Analysis of the data shows a significant decline in these indicators since their peak in February, with current levels approaching historic lows.
As of the end of April, the daily number of active addresses exceeded 815,000, transaction volume exceeded 1.5 million, and whale transactions reached over 73,500.
However, as of now, daily active addresses are down to about 545,000, transaction volume is down to about 495,000, and whale transactions are down to about 26,500.
The Bitcoin Fear and Greed Index currently places BTC in the greed zone. It reports a score of 57 points, indicating greedy sentiment among investors. This suggests an influx of BTC market participants motivated by potential profits.
However, given the decline in BTC's key indicators and the recent selloff, this could potentially lead to downward pressure on prices.
#Binance #Bitcoin #Whale