Dormant Bitcoin Wallet Moves 1,000 BTC After 6 Years of Inactivity

On Friday, a previously inactive wallet containing 1,000 BTC moved to Coinbase, causing speculation about the intentions of dormant holders. These holders may be looking to cash out while prices remain high or engage in speculative activities in the derivatives market. The selling by long-term holders, miners, and the German government's divestment of coin holdings has contributed to a nearly 9% drop in bitcoin prices this month. The release of the Fed's preferred inflation gauge later on Friday may increase price volatility, with a benign inflation print potentially strengthening the case for Fed rate cuts and putting a floor under BTC.