Sleeping beauty Bitcoin wallets wake up after 14 years to the tune of $2B

Most interesting to me is that people are worried about a $2B transaction moving the market.

How does that compare to the market depth of actual currencies or commodities? BTC, being objectively worthless, must be much more sensitive to people wanting to sell I'd expect.

How is BTC objectively worthless (I'm guessing you mean "intrinsicly worthlesss"?) as opposed to USD or other major currencies?

Other currencies get their value because the governments that provide them make people pay taxes. If you want to pay the tax the US government charges you, you're going to need some USD - so there's guaranteed demand, and hence intrinsic worth.

There's also other debt that the US government provides in USD - which provides value as well, in the form of bonds.

BTC has no such driver of wealth. Except perhaps money laundering/transfers without AML provisions.

People value a way to store money securely in a place that can’t be physically robbed, that can be sent internationally with low fees quickly.

You don’t need anything else.

For years the haters on here would screech “but it’s volatile” - not really anymore. I wonder what they’ll decide to hate it for now, rather than changing priors.

According to your theory, all the thousands of shitcoins are valuable. But they're not.

There must be further reasons, then, that the price of Bitcoin is so high. And they're purely sentiment, I'd argue. If that changes, there's little to prevent the price from going down very far very fast. Unlike fiat.