Long-Term Bitcoin Holders Show Increased On-Chain Activity

Data from Darkfost indicates that Bitcoin holders who have kept their assets for over five years are showing significantly increased activity. The 90-day moving average of spent UTXOs has doubled to 1,500 BTC since May. While this suggests uncertainty during the current consolidation phase, analysts note that these movements may represent security-focused transfers, such as moving funds to Coldcard wallets, rather than outright selling.