Bitcoin's Sleeping Giants Awaken: Over 7,600 'Old' BTC Move, Signalling Market Reshuffle A significant shift is underway in the Bitcoin market as over 7,600 BTC, dormant for 3 to 5 years, have recently moved on-chain. This notable activity suggests long-term holders are strategically offloading their assets, potentially signaling a major reshuffle in the cryptocurrency's supply dynamics. Analysts are closely watching these movements as Bitcoin navigates crucial price levels amidst evolving market conditions.
Long-Term Holders Initiate Profit-Taking
Blockchain analysis reveals that 7,626 Bitcoin, aged between three and five years, recently shifted from cold storage to active circulation. This substantial movement, described by top analyst Maartunn as a "major Bitcoin reshuffle," indicates that long-term investors are beginning to take profits. Unlike past cycles, where such redistribution events typically occurred once before fading, this cycle has shown a repeated pattern of supply rotation in summer 2024, fall 2024, and anticipated summer 2025, with old coins increasingly flowing into Bitcoin ETF wallets. This trend highlights a structural shift where long-term holders reduce exposure while institutional vehicles continue to absorb the available supply.
Bitcoin Navigates Key Resistance Amid ETF Inflows
Despite this influx of selling pressure, Bitcoin has demonstrated resilience, holding above the crucial $110,000 support level, though it trades more than 9% below its $124,500 all-time high. The market is currently consolidating, with BTC priced around $112,409, testing mid-range resistance. Key technical barriers include the 50-day moving average at $111,661 and the 100-day moving average at $114,382. The market's stability, despite profit-taking, is largely attributed to consistent ETF inflows, which act as a robust demand sink for institutional capital. Sustaining a close above $114,000 would reinforce bullish sentiment, potentially paving the way for a retest of the $120,000-$124,000 zone. Conversely, a failure to maintain support above $110,000 could see BTC revisiting lower support zones around $106,000-$108,000, underscoring the delicate balance between long-term holder distribution and new institutional demand.
