Old Bitcoin Whales Resurface With $760M Move—Brace For Impact?
Summary
Bitcoin whales holding coins for three to five years have recently begun moving significant amounts of tokens, as indicated by the "Spent Output Age Bands" (SOAB) metric. This age band has seen a spike in transaction activity, with 8,003 BTC, valued at over $760 million, being moved. Historically, longer-held coins are less likely to be sold, suggesting that these long-term holders are typically resolute. However, the recent movement could indicate a potential selling motive, especially as Bitcoin's price recovery has stalled. The current trading price of Bitcoin is approximately $95,100, reflecting a nearly 2% increase over the past week. Monitoring the SOAB for this group may provide insights into future profit-taking actions.
