Key Insights
- •1,001 BTC from 3–5 year-old wallets moved, raising market attention amid stable price action.
- •Long-term holder SOPR remains above 1.0, showing coins are being sold at clear profits.
- •MACD on monthly chart nears crossover, echoing previous 70% drops after similar signals.
Data from CryptoQuant shows that 1,001 BTC held for 3 to 5 years has recently been moved. These transfers were recorded on October 21, 23, and 24. The chart titled Spent Output Age Bands shows sharp spikes in red, indicating activity from wallets last active between 2020 and 2022.
This type of movement is usually linked to long-term holders. These coins have remained untouched for several years and are now re-entering circulation. Events like this often raise questions about the possible intent behind the transfers, especially when they happen during strong market conditions.
Price Remains Stable Despite Dormant Coins Moving
During the same period, Bitcoin’s price remained steady. After briefly falling below $108,000 on October 23, it quickly recovered and reached over $111,000 by October 24. The current price was $110,148, with a 24-hour trading volume of $54.4 billion.
There was no large drop in price after the coins moved. This suggests that the market is absorbing the activity without panic or heavy selling. Liquidity remains high, which helps support price levels even when older coins are unlocked.
SOPR Shows Profit Realization by Long-Term Holders
The Long-Term Holder SOPR, which tracks if old coins are sold at a profit or loss, stayed above 1.0 throughout the past month. Values above 1 mean the coins were sold for more than they were bought. Several spikes above 2.0 were recorded, showing stronger profit-taking during price swings.
Bitcoin’s price moved between $124,000 and $106,000 during the same window. The SOPR line showed sharp changes, indicating that long-term holders chose to sell at specific moments, likely when the price was higher.
MACD Shows Signs of Weakening Momentum
On the monthly chart, Bitcoin’s MACD indicator shows the two lines moving closer. While no crossover has occurred yet, the histogram is narrowing. Past crossovers on this timeframe—such as in 2018, 2020, and 2021—were followed by steep price corrections.
Ali Martinez notes that previous bearish MACD crosses led to price drops averaging around 70%. As of now, there is no confirmation, but some analysts are watching the chart closely. “If it crosses again, history shows what can follow,” said one source familiar with the data.
