Grayscale Moves 8,511 Dormant BTC, Market Stays Bullish
Key Takeaways
- 8,511 Bitcoin (BTC), held for 3–5 years, were recently moved on-chain.
- The transfer likely originated from Grayscale, a major asset manager.
- The coins were not sent to exchanges but moved to new wallets.
- Indicators such as Coin Days Destroyed (CDD) and dormancy suggest rising market activity.
- The overall market remains bullish as long as there are no major sell-offs.
What Does the Movement of Old Bitcoins Mean?
When long-held Bitcoins – known as “Long-Term Holder” coins – are moved, it often signals a shift in market dynamics. In this case, 8,511 BTC from the 3 to 5-year age band were transferred on-chain. This means these coins have become active again after a period of dormancy. Such movements can indicate upcoming sales or strategic reallocations.
Coin Days Destroyed (CDD) as an Early Indicator
The CDD metric measures how many “aged” coins have been moved. A spike from 5 to 29 million in a single day shows that many of these older coins were recently transferred. At the same time, average dormancy – how long coins remain untouched on average – dropped from 42 to 33 days. This suggests that new market participants are becoming active and older coins are re-entering circulation.
Grayscale as a Possible Trigger
According to analyst Maartunn from CryptoQuant, the movements likely originated from Grayscale. The asset manager transferred the BTC to new addresses. Whether this involves internal restructuring or actual ownership changes remains unclear. Importantly, the coins were not sent to exchanges. This suggests there is no immediate selling pressure.
Exchange Netflow Indicates Bullish Sentiment
Exchange netflow – the difference between BTC deposits and withdrawals on exchanges – has been negative over the past three days. This means more BTC have been withdrawn than deposited. Such periods often indicate accumulation, as investors prefer to hold their coins in private wallets rather than on trading platforms.
What’s Next for the Bitcoin Price?
As long as the reactivated coins do not end up on exchanges, the market remains stable. However, if Grayscale decides to sell a portion of these BTC, short-term pullbacks may occur. Analysts see a potential price target of USD 104,000 in that case. If the current trend continues, a rise to USD 107,000 to 108,000 is conceivable.
Our Assessment
The movement of 8,511 BTC is a clear signal that something is shifting in the market. Long-term holders are becoming active – a sign that they may be taking profits or strategically reallocating their holdings. Since the coins were not moved to exchanges, there is currently no acute selling pressure. The data points more toward a bullish market sentiment. Nevertheless, you should keep an eye on developments at Grayscale. A large-scale sale could create short-term pressure on the price. Overall, the outlook remains positive – especially for long-term investors.
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| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
|
| Cons |
|
| Further practical applications | |
| Price | 111704 |
| 24h % | 4.55 % |
| 7d % | 7.43 % |
| 30d % | 22.10 % |
| 60d % | 31.49 % |
| 1y % | 59.99 % |
| Market Cap | $2,218,112,760,275.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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