Bitcoin’s Dormant Supply Awakens Amid Key Market Movements
- Bitcoin is trading between $115,000 and $110,000, with current levels around $113,897.
- Top analyst Maartunn reports that over 600,000 BTC aged three to five years have moved onchain since March.
- The movement of dormant Bitcoin aligns with capital rotation trends between Bitcoin and Ethereum.
- Key resistance at the $114,587 level is being tested by bulls aiming for a breakout.
- Support is maintained above the $112,204 mark, indicating potential for continued upward momentum.
The recent onchain activity of long-term Bitcoin holders suggests a significant shift in market dynamics as these coins are typically held through volatility cycles. This movement could indicate strategic repositioning or profit-taking as Bitcoin tests key resistance levels.
With Bitcoin’s price consolidating below major resistance and support intact above $112,000, the market watches closely to see if this will lead to a breakout or further consolidation within the current range. Source
