Satoshi-Era Miner Wallets Awaken: 40 Addresses Send 2,000 BTC to Coinbase
The most notable signal this week comes from a batch of long-dormant Bitcoin wallets. On-chain data shows that 40 miner wallets originating from the 2010 Satoshi era suddenly became active, depositing 50 BTC each into Coinbase—totaling 2,000 BTC. According to the head of CryptoQuant, such early miners tend to move at key turning points in the market. After holding coins for over a decade, their decision to sell now suggests they consider the current price a selling opportunity. This type of 'old money' movement historically creates short-term selling pressure and can dampen market sentiment.
Price Retreats to $74,000 Key Level; Can BlackRock’s Buying Streak Provide Support?
Bitcoin fell from $78,000 to around $74,000 over the weekend, with almost no meaningful buying demand during the low-volume period. Whether the price can stabilize at this level largely depends on institutional activity when US stock markets open tonight. Last week’s rally was primarily driven by BlackRock’s Bitcoin spot ETF, which recorded eight consecutive days of net inflows—the highest weekly inflow in three months. If institutional capital continues to absorb the supply from early miners, the $74,000 level could act as a short-term floor. If demand proves insufficient, Bitcoin may retest the $70,000 support level. Currently, the market is in a process of handover between new and old capital, and the correction is still too short to confirm a bottom. More time is needed for full absorption.
Geopolitical Risks and Ceasefire Deadline Keep Market in Short-Term Volatility
Beyond on-chain dynamics, geopolitical factors are also influencing price action. Negotiations between the US and Iran have become uncertain again, pushing oil prices higher and weighing on risk assets including Bitcoin. The April 22 ceasefire agreement deadline is a critical inflection point. In the lead-up to that date, market sentiment will be highly sensitive. If the Trump administration pushes forward a successful ceasefire deal, Bitcoin could rally alongside a broader risk-on mood; conversely, escalating conflict would add further downside pressure. Another key factor will be tonight’s BlackRock ETF inflow data, which will set the tone for the week. Overall, Bitcoin is likely to oscillate in the $74,000 range until the ceasefire deadline passes, with the market awaiting a clear directional catalyst.