Bitcoin OGs Move Record Amounts Amid Stagnant Price

Long-term Bitcoin holders have significantly increased their transaction activity since May, with data showing an average of 1,500 BTC moved from wallets dormant for over five years. This trend is occurring despite a stagnant price near $80,000.

The number of spent unspent transaction outputs (UTXOs) from veteran holders has more than doubled since June, when it dropped to 962 BTC, its lowest in almost two years. Darkfost noted that 'OG Bitcoin holder activity has intensified during this consolidation phase.'

A significant driver behind recent transfers is the Coldcard hardware wallet security breach, which exposed seed phrases and put user holdings at risk.