Bitcoin LTH Movements Stir Market Anxiety

Old wallets holding Bitcoin (BTC) for five to seven years and seven to ten years have been moving coins, raising concerns about potential selloffs. According to data from Darkfost, these wallets have moved above 5,000 BTC on some days.

However, the transactions are spent UTXOs, which means the coins have not necessarily been sent to the market for sale. Market commentator That Martini Guy notes that funding rates remain low, indicating that the rally is not being driven by heavy leverage.

Miner supply has also increased, but Bitcoin price has stayed firm as buyers absorb the extra selling pressure. The combination of these factors suggests that the market may be handling potential sources of pressure effectively.