On-chain data reveals that Bitcoin whales who have held their assets for three to five years have recently begun to move significant amounts of Bitcoin tokens.
Bitcoin HODLer Whales Have Broken Their Silence Recently
In a recent post on X, CryptoQuant community analyst Maartunn highlighted intriguing trends surrounding long-term Bitcoin investors. A key on-chain indicator, the Spent Output Age Bands (SOAB), has registered noteworthy activity indicating movement among coins held for an extended period.
The age band concept categorizes coins based on the duration since their last transaction on the network. For instance, the 1-day to 1-week band captures Bitcoin that has recently been transacted, while our focus here is on the 3- to 5-year group.
Transactions from addresses within specific age bands trigger spikes in the corresponding SOAB data. Notably, the 3- to 5-year age band has witnessed a dramatic increase in transaction activity.
As illustrated in the chart shared by the analyst, the SOAB indicator for this group has experienced a significant uptick, indicative of large amounts of older coins being moved.
In total, transactions from this age band accounted for 8,003 BTC, which currently equates to an impressive value of over $760 million.
Statistical trends reveal that the longer investors hold their coins, the less inclined they are to sell in the future. Investors who mature into older age bands typically exhibit increased resolve regarding their holdings.
Market participants known as HODLers—those who maintain their investments for more than 155 days—are often categorized as long-term holders. The current activity of this cohort signifies that those holding coins for over three years possess considerable conviction.
However, the recent movement of these established holders could pose a potential concern for the Bitcoin market, especially if the motivations behind these transactions lean towards selling, a common occurrence when dormant tokens shift hands.
This recent activity coincides with a period of stagnation for Bitcoin’s price, as its recovery rally has come to a standstill. It appears that these whales may perceive this as an opportune moment to secure profits, leading them to initiate sales.
Observers should closely monitor the SOAB for this Bitcoin group to discern if additional steadfast holders will follow suit in seizing profits.
BTC Price
As of this writing, Bitcoin is trading at approximately $95,100, reflecting an uptick of nearly 2% over the past week.
