Bitcoin Whales Keep Buying as Older Holders Start to Move

Large Bitcoin holders are continuing to buy into the market despite recent price fluctuations. According to data from CW on X, whale buy orders remain strong even as BTC trades around an important price area.

The same data shows that there are no notable sell orders from these large holders at the moment, suggesting they may be holding their positions or buying more.

As a result of this continued support from whales, the market has been able to stay buoyant despite some pressure in recent sessions. This has caught the attention of traders who often look at large orders to gauge where strong demand exists.

In addition to whale activity, older Bitcoin holders have also started moving their coins. According to CryptoQuant data cited by Darkfost, wallets holding Bitcoin for more than five years have become slightly more active in recent days, with the monthly average of Bitcoin spent from these old wallets increasing from around 800 BTC to about 1,200 BTC.

However, it's worth noting that this increase is not a major jump and may not necessarily be a warning sign. It could simply indicate that some long-term holders are deciding to sell or move part of their Bitcoin after keeping it untouched for years.