Bitcoin Long-Term Holders Show Decreased Market Activity

Decline in Bitcoin Spent Outputs

Bitcoin (BTC) has reached a 10-month low in the number of spent outputs with a lifespan of one to two years. This indicator suggests that long-term holders are either selling or transferring their coins. The metric, known as "Number of Spent Outputs with Lifespan 1y-2y (7d Moving Average)," reached its lowest point since July 2022, indicating a significant shift in market behavior.

Market Sentiment Among Long-Term Holders

The decrease in this metric can be interpreted as a sign of reduced confidence among long-term investors in Bitcoin's growth prospects. Some holders are opting to sell or transfer their BTC, reflecting a shift in sentiment. Alternatively, this trend may indicate that investors prefer to hold their BTC for longer periods, avoiding short-term trading.

Recent Market Performance

Bitcoin's market performance has seen a decline, with the cryptocurrency down by over 9% in the past week. The current price hovers around $26,800, and trading volumes have decreased by 16% in the last 24 hours, amounting to $16 billion. This downturn could be contributing to the decreased activity among long-term holders.

Unmoved Bitcoin Reaches All-Time High

Interestingly, the percentage of unmoved Bitcoins has reached an all-time high, with 53% remaining untouched for the past two years. This suggests that a significant portion of BTC in circulation has not been traded since 2021, highlighting a trend of holding rather than active trading among investors.

Overall, the current trends reflect a cautious approach from long-term Bitcoin holders, possibly influenced by market volatility and uncertain growth prospects.