After 8 years of inactivity, bitcoin wallet moved 1100 BTC

The bitcoin wallet received its first funds from nine other crypto wallets, and then did not show any activity for 8 years. Having suddenly returned, the wallet has sent 518 BTC and 587 BTC to addresses ending in «zvsd» and «r6YT» only recently.

Analysts expect that almost half of these funds will be transferred to custodial wallets.

Experts suggest that this may be the address of an old powerful miner. The sudden increase in the activity of bitcoin miners may be due to the fact that a significant number of them have begun to close their operations and left the market. At least until the bitcoin price returns to a level that will make cryptocurrency mining more profitable.

Market players point out that bitcoin mining at a price below $ 28,000 makes almost any mining rig unprofitable, given the significant rise in electricity costs around the world.