%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment - Silk Road-linked wallets move $3M in BTC after years of inactivity - SpaceX-associated wallet shifts 1,021 BTC to Coinbase Prime custody - High-value transfers emerge as Bitcoin rebounds from recent quarterly lows Cryptoprowl / Fresh blockchain activity tied to historic Silk Road wallets has drawn new attention after a series of transfers totaling roughly $3 million surfaced this week. The movements were identified by Conor Grogan, Coinbase's (NASDAQ: $COIN ) Director of Product Strategy and Business Operations, who noted that several long-dormant addresses linked to the darknet marketplace re-entered circulation. The renewed activity emerged as analysts tracked low-volatility conditions in the broader Bitcoin (CRYPTO: $BTC ) market and evaluated the timing of the transfers heading into the final weeks of the year. Reawakened Addresses Trace Back to Earlier Investigations Grogan stated that the wallets involved were part of a cluster he first cataloged in early 2025, when he identified dozens of addresses he associated with Ross Ulbricht, the founder of Silk Road. At the time of his review, the combined holdings across those addresses totaled approximately 430 BTC, valued at $47 million based on market prices during that period. https://x.com/jconorgrogan/status/1882046613709115875?s=20 These assets were noticed because they appeared to fall outside the tranche of Bitcoin seized by U.S. authorities following Ulbricht's arrest more than a decade ago. Grogan highlighted one of the addresses again on Wednesday, pointing out that it still held 89.77 BTC. He had previously referenced this wallet publicly after Ulbricht received a Presidential pardon earlier this year. Large Transaction Linked to SpaceX Surfaces in Parallel The renewed interest coincides with another large Bitcoin transaction flagged by Lookonchain, a blockchain analytics platform. According to the firm, a wallet linked to SpaceX transferred 1,021 BTC, valued at $94.48 million, to Coinbase Prime. The transfer was identified as a custody-related movement rather than a market sale, though its scale placed it among the larger transactions of the week. Market Watches for Possible Signals as BTC Rebounds The cluster of high-value wallet movements arrives during a period when Bitcoin has struggled to reclaim momentum in the final quarter of 2025. Market data showed the asset trading at $92,240 at the time of writing, recovering 5.11% from a weekend dip to $87,744. With several dormant wallets returning to activity and large institutional-linked transfers appearing on-chain, analysts are examining whether these transactions signal additional movements as the year draws to a close.