Crypto Alert: Dormant Wallet Activates With Transfers $44 Million in Bitcoin: What’s Next?

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Activation of dormant whale wallet with $43M in BTC raises concerns of potential selloff amid Bitcoin’s recovery.
Bitcoin’s surge past $64K triggers caution among traders due to overbought signals and potential trend reversal indicators.
Shorts dominating liquidations as Bitcoin rebounds, but impact of short squeeze may be limited, keeping market dynamics uncertain.

Bitcoin soared above the $64,000 threshold today, setting a momentous achievement in its current run-up.The resurgence in Bitcoin’s price was accompanied by a noteworthy event – the activation of a dormant wallet containing 687 BTC, valued at over $43 million as per Whale Alert data. This dormant Bitcoin whale, inactive for over a decade, made two substantial transfers to unknown wallets on Monday, totaling nearly $44 million.

As per Lookonchain, an onchain analytic firm, the first transaction involved the transfer of 625.42 BTC, amounting to a $41 million. The second transfer moved 61.9 BTC, equivalent to approximately $4 milli…

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