Satoshi-Era Bitcoin Miners Awaken En Masse Within One Hour – What’s Happening?

Earlier today, Whale Alert, a well-known blockchain tracker, reported that several Bitcoin wallets from the Satoshi era have recently come back to life after being dormant for over 15 years.

### Five Dormant 2009 Bitcoin Miners Suddenly Reemerge

Analytics account @lookonchain shared that within just one hour, five long-dormant Bitcoin wallets reactivated, each containing 50 BTC, amounting to approximately $3.18 million. By November 2012, when the first Bitcoin halving occurred, the network had reached a milestone of 210,000 blocks.

These wallets belonged to miners who earned their 50 BTC by successfully generating a Bitcoin block in 2009, the inaugural year of the cryptocurrency introduced by the mysterious Satoshi Nakamoto. During that time, the block reward was 50 BTC until the first halving reduced it to 25 BTC in 2012.

Collectively, these five wallets transferred a total of 250 BTC, valued at nearly $16 million.

### Bitcoin Price Surges Past $63,000

This week, Bitcoin has seen significant upward momentum, increasing more than 11% as it climbed from $57,600 to around $64,000. In the past 24 hours alone, the price surged by 3.36%. However, a slight decline followed, and at the time of writing, Bitcoin is trading at $63,545. This notable rise was largely fueled by the Federal Reserve’s decision to cut the annual interest rate by 50 basis points.

This marks the first interest rate reduction by the preeminent central bank in the last four years, reflecting a shift to a more accommodative monetary stance.