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Bitcoin Whales Resurfacing May Mean Rough Seas Are Ahead for Traders

  • Trading activity by long-dormant crypto accounts has climbed
  • Supply of actively traded coins has increased since the summer
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Photographer: Jung Yeon-Je/AFP via Getty Images

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Overlooked amid a resumption of digital-asset market volatility is a resurgence of activity by anonymous owners of long-dormant Bitcoin accounts that suggests more dramatic price swings lie ahead.

Starting in October, a large number of holders who hadn’t touched their Bitcoins for between six months and more than 2-1/2 years began moving their coins, according to analytics provider Flipside Crypto. The trend has continued since the start of the new year, with so-called digital wallets that have been active in the last 30 days now holding about 60 percent of the circulating supply, the Boston-based firm found.