49,700 Dormant Bitcoin Just Moved—What’s Next For BTC’s Price?
Bitcoin recent price movements have been nothing short of a rollercoaster ride. Earlier this week, BTC traded below $90,000 and quickly bounced back to above $100,000. As of today, the asset now hovers above $98,000.
Amid this price performance, CryptoQuant contributor XBTManager has provided insights into an important on-chain metric, highlighting a notable shift in the 6-12 month spent output age bands. This activity sheds light on possible market dynamics and future price developments.
Analyzing Bitcoin’s Spent Output Age Bands
The 6-12 month spent output age band reveals instances where long-held Bitcoin is moved, offering a glimpse into shifting market behavior.
According to XBTManager, a significant amount—49,700 BTC—has recently been spent in this category today. Such substantial ...