Long-Term Bitcoin Holders Boost Spending Amid Market Uncertainty

Bitcoin holders who have kept their coins dormant for over five years are showing increased activity since May, despite the market's consolidation around $79,600. The 90-day average spent output has risen to approximately 1,500 BTC, a doubling of spending from previous periods.

This trend suggests that veteran investors are repositioning themselves in the market amid uncertainty, rather than engaging in widespread selling. Some activity may be linked to security concerns following the Coldcard hardware wallet incident, prompting users to move coins for safety reasons.

The increase in spending among long-term holders does not necessarily indicate a shift towards selling, as the Bitcoin price has remained relatively stable during this period. The trend highlights cautious repositioning by investors in response to market uncertainty.