Bitcoin has reached a fresh all-time high after soaring above $112,000 on Wednesday as it broke out after seven weeks of muted price action.
Amid this new peak, coins that have remained dormant for nearly a decade are now stirring.
Dormant Bitcoin Activity Rises
After observing Spent Output Age Bands data, CryptoQuant found that long-term Bitcoin holders started moving coins dormant for seven to ten years. Historically, such movements have aligned with major price turning points, and raise questions about potential profit-taking amid the current rally.
While Bitcoin’s ability to hold its high price range points to underlying market strength, the activation of these old coins adds uncertainty as investors assess the possibility of market overheating.
Just last week, two Satoshi-era wallets moved 20,000 BTC worth $2.18 billion after 14 years of dormancy, surprising on-chain watchers. These rare, aged transactions have sparked speculation about early miners or recovered wallets.
Despite the size of the transfers, Bitcoin’s price remained stable.
Retail Quietly Exits
Alongside these rare movements, what stood out in this rally was the limited involvement of retail investors. On this note, Kushal Manupati, Regional Growth & Ops Lead of South Asia at Binance, in a statement to CryptoPotato, said,
“Bitcoin hitting an all-time high is a pivotal moment for the virtual digital assets industry. Institutions are showing confidence to enter the space at scale, driving both liquidity and credibility. Importantly, this rally is not purely retail-driven. It reflects the increasing role of crypto in diversified investment portfolios and a growing recognition of the value of Bitcoin.”
The retail absence is further evidenced by Santiment’s update, where it explained that in the days leading up to the breakout, this cohort of investors had been exiting the market due to impatience or disbelief. This is a common pattern seen before major crypto rallies.
It is often observed that periods of retail exit and cooling sentiment precede major upward moves, as crypto markets tend to move against broader crowd expectations while larger players accumulate.
Now that Bitcoin is trading above its previous peak, the focus will shift to whether the number of holders on the network begins to rise, indicating renewed retail interest and potential FOMO as the market responds to this fresh milestone.
The post Bitcoin Tapped $112,000: Dormant Whales Stir, Retail Nowhere to Be Found appeared first on CryptoPotato.