$8.6 billion worth of Bitcoin, dormant for over 14 years in Satoshi-era wallets, was suddenly moved on July 4th.
Coinbase’s Head of Product suggests a possible hack in the movement, causing a 1.6% drop in Bitcoin’s price and panic in the crypto markets.
The movement prompted speculation about the historic heist, potential Satoshi Nakamoto involvement, and market risks related to Bitcoin's price behavior.
The sudden transfer of 80,000 BTC has raised concerns in the crypto community, with fears of potential selling from dormant wallets impacting market sentiment.