Pakinomist – On January 10, 2009, history was made with the first ever Bitcoin-related tweet by early pioneer and computer scientist Hal Finney.
Finney’s iconic tweet “Running Bitcoin” was highlighted by Bitcoin historian Pete Rizzo, who shared on X, “The 1st Bitcoin tweet, posted, when the price was $0, exactly 16 years ago.”
Finney was among the earliest Bitcoin users, and on January 12, 2009, he received the first Bitcoin transaction from Satoshi Nakamoto, Bitcoin’s pseudonymous creator.
Finney’s first Bitcoin tweet, sent 16 years ago, marked the beginning of a new era, as Bitcoin had no monetary value at the time. Fast forward 16 years and Bitcoin has become a global financial asset with an all-time high of $108,268 on December 17, 2024.
As reported, Finney predicted that if Bitcoin became the world’s dominant payment system, its value would “equal to the combined value of all the wealth in the world.” Extending this logic, he determined a value of $10 million for the leading cryptocurrency.
What indicators reveal on Bitcoin
At the time of writing, BTC had fallen 0.83% in the last 24 hours to $94,507.
Bitcoin’s Short-Term Holder (STH) cost model is a crucial indicator for gauging sentiment among new investors. Historically, this model has followed market lows during bull cycles and distinguished between bull and bear markets.
According to Glassnode, the BTC price is currently almost 7% above the STH cost basis of $88,135. If the price stabilizes below this level, it may indicate waning sentiment among new investors, which is often a turning point in market trends.
Meanwhile, the percentage of Bitcoin wealth held by new investors (coins less than three months old) has increased, accounting for 49.6% of network liquidity. This implies that mature investors have allocated coins meaningfully throughout the rally, with new demand offsetting sell-side pressure.
