7+ Years Bitcoin Holders Move Large Amounts of BTC Amid Price Rebound: CryptoQuant
On-chain analysis shows that long-term Bitcoin holders have reawakened and are shifting large amounts of the asset following its rebound from under $90,000.Bitcoin has rebounded nicely from a short-term price bearish trend. The pioneering cryptocurrency rebounded over 20% from its lows of $78,179 last week to close above $94,000 on Sunday.While the rebound has pulled the bull cycle back on track, data shows long-term holders might be growing impatient with Bitcoin. A recent analytical exposition shows that funds transfers among holders who bought at least before the last two Bitcoin halvings have surged extensively.Large Holders Shifting BTCMaarten Regterschot, a market watcher and CryptoQaunts community manager, recently shared intriguing Bitcoin activity among long-term holders. In a tweet today, he noted that there has been considerable movement among old Bitcoin wallets since the asset rebounded from the latest dip.First, an accompanying chart shows a spike in Bitcoins spent output age bands among wallets holding Bitcoin for at least seven years since yesterday. For perspective, the indicator displays the spent output among users within a specific age band, giving insight into the market sentiments of an underlying asset's short and long-term holders.The analysis shows that whale wallets between 7 and 10 years old moved nearly 180 BTC immediately after the market rebounded to a high of $96,484 on Sunday. Similar on-chain activities were seen among wallets at least 10 years old, which moved over 120 BTC earlier today.
Text source: The Crypto Basic
