CryptoQuant Analyst Says Oldest Bitcoin Holders Have Increased On-Chain Activity

CryptoQuant analyst Darkfost said Bitcoin’s oldest holders have shown a notable increase in on-chain activity recently. According to ChainCatcher, UTXO movement among holders with 5 to 7 years and 7 to 10 years of holding periods has repeatedly exceeded 5,000 BTC per day. Darkfost said spending UTXOs does not necessarily mean selling, as long-term holders typically move Bitcoin for two main reasons: security-related wallet address changes or asset sales. Current on-chain data does not show large amounts of funds flowing to exchanges, suggesting there is no sign of large-scale BTC selling yet. The activity comes as Bitcoin again tests the area near $60,000, similar to market behavior seen from February to March this year. Market participants will continue watching whether long-term holder activity affects BTC supply and demand dynamics further.