Long-Term Bitcoin Holders Return as Weak U.S. Demand Raises Selling Pressure
- Bitcoin held by long-term investors has begun moving to exchanges after years of dormancy.
- CryptoQuant data shows a sharp increase in Coinbase inflows from 3- to 7-year-old coins.
- At the same time, the Coinbase Premium Index remains weak, pointing to subdued U.S. spot demand.
- The combination suggests returning supply may be harder for the market to absorb.
The latest data from CryptoQuant shows a sharp rise in older Bitcoin entering Coinbase just as the Coinbase Premium Index remains subdued, indicating that one of the marketโs largest pools of potential selling pressure is returning while one of its key sources of buying demand appears to be weakening.
Dormant Bitcoin Supply Reappears
Long-term Bitcoin holders have begun moving coins that had remained inactive for years, according to on-chain data from CryptoQuant, signaling a pickup in activity among some of the marketโs oldest investor cohorts.
Key developments include:
- 3-5 โ year-old coins: Coinbase inflows increased 595%.
- 5-7-year โ old coins: Inflows surged 1,016%, marking the sharpest rise among tracked age bands.
- Large individual transfer: CryptoQuant analyst Maartunn identified 3,848 BTC (approximately $242.5 million) moving in a single block from long-term holders.
The data indicates that previously dormant supply is becoming more active, although transfers to exchanges do not necessarily imply immediate selling. Historically, however, movements from long-term holder cohorts tend to draw attention because they can increase available market supply and influence short-term liquidity, particularly when accompanied by weakening spot demand.
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