Bitcoin Holds Near $80,000 as Arbitrum Surges 42% and 600 Dormant BTC From 2010 Stir

Bitcoin spent the weekend locked in a narrow battle around the $80,000 level, unable to sustain a breakout even as a wave of capital rotated into select altcoins. Arbitrum's ARB token delivered the day's most explosive move, jumping 42% to trade above $0.19, while privacy-focused Zcash climbed 17% to approach $1,200 for the first time in nearly a decade.

At the same time, a separate onchain development captured the attention of crypto sleuths: roughly 600 BTC mined in March 2010 moved Saturday from addresses that had been dormant for more than 16 years. The transfers, worth about $48 million at current prices, briefly reignited speculation about a possible connection to Bitcoin's pseudonymous creator, Satoshi Nakamoto.

Whale Alert, a blockchain transaction tracking platform, traced the funds to mining rewards paid across 12 Bitcoin blocks from March 2010. The company said its analysis found no evidence tying any of those blocks to Nakamoto. "None of the blocks can be connected to Satoshi based on our research," a Whale Alert spokesperson said.

Bitcoin's Uneven Week

The leading cryptocurrency entered the weekend around $80,000 after a volatile stretch that saw it swing between $76,500 and $82,400 over the course of five trading sessions. August closed with a gain of more than 25%, marking a strong recovery despite early-month turbulence.