{"id":575801,"date":"2024-02-19T15:00:43","date_gmt":"2024-02-19T15:00:43","guid":{"rendered":"https:\/\/uniquehot.com\/?p=575801"},"modified":"2024-06-11T08:31:55","modified_gmt":"2024-06-11T08:31:55","slug":"16000-bitcoin-dormant-since-5-years-whats-going","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/16000-bitcoin-dormant-since-5-years-whats-going\/","title":{"rendered":"16,000 Bitcoin Dormant Since 5+ Years Suddenly Moves, What’s Going On?"},"content":{"rendered":"

On-chain data shows 16,000 BTC, which have been dormant for 5-7 years, have finally shown some movement on the Bitcoin blockchain.<\/p>\n

5-7 Years Old Bitcoin Age Band Has Made A Large Move<\/h2>\n

As pointed out by an analyst in a post<\/a> on X, a large stack of dormant coins has moved across the network today. The relevant on-chain indicator here is the “Spent Output Age Bands<\/a>” (SOAB), which keeps track of the movements of the various Age Bands on the blockchain.<\/p>\n

“Age Bands” here refer to groups of coins divided based on their total holding time. For example, the 1-month to 3-month Age Band would include all coins that have been dormant (that is, staying inside the same address) since between one and three months ago.<\/p>\n

Related Reading: Bitcoin Short-Term Holders Just Locked In $647 Million In Profits<\/a><\/div>\n

If a large number of coins belonging to this holding time range would transfer on the blockchain, then the SOAB for this particular Age Band would register a spike. In the context of the current discussion, the 5-7 years Age Band is of interest.<\/p>\n

The chart below shows the recent SOAB data for this Age Band specifically:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the value of the metric has just registered a large spike | Source: @binhdangg1 on X<\/a><\/pre>\n
As displayed in the above graph, a large amount of coins aged between 5-7years old appear to have just been moved on the network as the corresponding Age Band has registered a spike.<\/p>\n
This Age Band is a segment of the wider and “long-term holder<\/a>” (LTH) group, which includes investors who have been holding onto their coins since at least 155 days ago.<\/p>\n
Statistically, the longer a holder keeps their coins dormant, the less likely they become to sell at any point. As such, the LTHs are generally considered to be more resolute than the rest of the market (the “short-term holders<\/a>“).<\/p>\n
Since the 5-7 years Age Band would include coins that are old even in LTH terms, their owners would have to be diamond hands among diamond hands. Due to this reason, it can be something notable when such ancient entities finally decide to break their silence.<\/p>\n
Related Reading: Cardano (ADA) To Break $8 In Bull Run: Analyst Predicts Timeline<\/a><\/p>\n
During the latest SOAB spike, these investors have moved a massive stack of 16,000 BTC (around $837.8 million at the current exchange rate). Now, what implications this move may have on the market depends on what these investors intend to achieve with it.<\/p>\n
A dive deeper into on-chain data suggests the move was an outflow from the cryptocurrency exchange Coinbase, as the chart below shows:<\/p>\n
\"Bitcoin<\/p>\n
The value of the metric appears to have been quite high in the past day | Source: @binhdangg1 on X<\/a><\/pre>\n
The fact that it is an outflow may be a positive sign for Bitcoin, as it means that selling may not have been the goal here. Rather, the move implies the whale entity behind it may be moving towards self-custody to HODL further, or a large buyer like an ETF is gobbling this BTC up.<\/p>\n
BTC Price<\/h2>\n
Bitcoin had made a visit down to $50,600 during the weekend, but the cryptocurrency already appears to have bounced back as its price is now floating around the $52,400 level.<\/p>\n
\"Bitcoin<\/p>\n
The price of the coin appears to have overall moved sideways over the last few days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Erling L\u00f8ken Andersen on Unsplash.com, CryptoQuant.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows 16,000 BTC, which have been dormant for 5-7 years, have finally shown some movement on the Bitcoin blockchain. 5-7 Years Old Bitcoin Age Band Has Made A Large Move As pointed out by an analyst in a post on X, a large stack of dormant coins has moved across the network today. The relevant on-chain indicator here is the “Spent Output Age Bands” (SOAB), which keeps track of the movements of the various Age Bands on the blockchain. “Age Bands” here refer to groups of coins divided based on their total holding time. For example, the 1-month to 3-month Age Band would include all coins that have been dormant (that is, staying inside the same address) since between one and three months ago. Related Reading: Bitcoin Short-Term Holders Just Locked In $647 Million In Profits If a large number of coins belonging to this holding time range would transfer on the blockchain, then the SOAB for this particular Age Band would register a spike. In the context of the current discussion, the 5-7 years Age Band is of interest. The chart below shows the recent SOAB data for this Age Band specifically: Looks like the value of the metric has just registered a large spike | Source: @binhdangg1 on X As displayed in the above graph, a large amount of coins aged between 5-7years old appear to have just been moved on the network as the corresponding Age Band has registered a spike. This Age Band is a segment of the wider and “long-term holder” (LTH) group, which includes investors who have been holding onto their coins since at least 155 days ago. Statistically, the longer a holder keeps their coins dormant, the less likely they become to sell at any point. As such, the LTHs are generally considered to be more resolute than the rest of the market (the “short-term holders“). Since the 5-7 years Age Band would include coins that are old even in LTH terms, their owners would have to be diamond hands among diamond hands. Due to this reason, it can be something notable when such ancient entities finally decide to break their silence. Related Reading: Cardano (ADA) To Break $8 In Bull Run: Analyst Predicts Timeline During the latest SOAB spike, these investors have moved a massive stack of 16,000 BTC (around $837.8 million at the current exchange rate). Now, what implications this move may have on the market depends on what these investors intend to achieve with it. A dive deeper into on-chain data suggests the move was an outflow from the cryptocurrency exchange Coinbase, as the chart below shows: The value of the metric appears to have been quite high in the past day | Source: @binhdangg1 on X The fact that it is an outflow may be a positive sign for Bitcoin, as it means that selling may not have been the goal here. Rather, the move implies the whale entity behind it may be moving towards self-custody to HODL further, or a large buyer like an ETF is gobbling this BTC up. BTC Price Bitcoin had made a visit down to $50,600 during the weekend, but the cryptocurrency already appears to have bounced back as its price is now floating around the $52,400 level. The price of the coin appears to have overall moved sideways over the last few days | Source: BTCUSD on TradingView Featured image from Erling L\u00f8ken Andersen on Unsplash.com, CryptoQuant.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":575815,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,91673,84666,91674,15232,1119,1144],"class_list":["post-575801","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-dormant","tag-bitcoin-long-term-holders","tag-bitcoin-move","tag-bitcoin-whale","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\n16,000 Bitcoin Dormant Since 5+ Years Suddenly Moves, What's Going On?<\/title>\n<meta name=\"description\" content=\"On-chain data shows 16,000 Bitcoin dormant since 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"16,000 Bitcoin Dormant Since 5+ Years Suddenly Moves, What’s Going On?","url":"http:\/\/uniquehot.com\/news\/16000-bitcoin-dormant-since-5-years-whats-going\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/16000-bitcoin-dormant-since-5-years-whats-going\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/erling-loken-andersen-7FiieOuoBTU-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/erling-loken-andersen-7FiieOuoBTU-unsplash.jpg?fit=3898%2C2599"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin dormant","bitcoin long-term holders","bitcoin move","bitcoin whale","btc","btcusd"],"dateCreated":"2024-02-19T15:00:43Z","datePublished":"2024-02-19T15:00:43Z","dateModified":"2024-06-11T08:31:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"16,000 Bitcoin Dormant Since 5+ Years Suddenly Moves, What’s Going On?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/16000-bitcoin-dormant-since-5-years-whats-going\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/16000-bitcoin-dormant-since-5-years-whats-going\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/erling-loken-andersen-7FiieOuoBTU-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/erling-loken-andersen-7FiieOuoBTU-unsplash.jpg?fit=3898%2C2599\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin dormant\",\"bitcoin long-term holders\",\"bitcoin move\",\"bitcoin whale\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-02-19T15:00:43Z\",\"datePublished\":\"2024-02-19T15:00:43Z\",\"dateModified\":\"2024-06-11T08:31:55Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/erling-loken-andersen-7FiieOuoBTU-unsplash.jpg?fit=3898%2C2599","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/575801"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=575801"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/575801\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/575815"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=575801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=575801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=575801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}