Ancient Bitcoin investors are waking up at a higher rate than ever before during the current cycle, according to on-chain data. The “10+ Year-old Coins Expending Ratio” indicator shows that a significant percentage of coins dormant for 10 years or more have seen movement in the past 30 days. This trend has caught the attention of CryptoQuant Head of Research Julio Moreno, who notes that more OG investors of the asset are awakening than ever before.
The recent spike in movement of these ancient coins coincided with Bitcoin reaching a new all-time high in March. Typically, when such old coins move, it is often for selling purposes, with profit-taking being a likely motivation. Despite a slight decline in the ratio following the ATH, it has bounced back to a high level of 2.5% as Bitcoin’s price has recovered.
It is important to understand the motivations behind these movements. While some of the investors selling these dormant coins may be long-time holders looking to cash in on profits, many of these coins may have been lost or forgotten over the years. The recent awakening of these ancient Bitcoin investors highlights significant movements within the cryptocurrency market.
As Bitcoin continues to climb in value, monitoring these trends will be crucial for understanding future market dynamics and investor behavior. Stay informed about the latest cryptocurrency news by following our Twitter account and Telegram channel.
