Long-dormant Bitcoin holders suddenly resurface – as BTC falls below $30k
Ancient coins hit the market as Bitcoin price falls below $30,000 once again — sell pressure continuing to rise.
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
Quick Take
- Spent volume lifespan is defined as the total transfer volume of coins last active between five-years and 10-years ago.
- Recently, we have seen a lot of sell pressure coming from ancient holders — who have held Bitcoin (BTC) for longer than five years.
- Most notably, five to seven-year holders — since the SVB collapse back in March — have been selling at an elevated rate especially compared to last year.
- These holders were spooked by events such as the FTX and Luna in 2022.
- These can be seen as capitulation events.
