As the Bitcoin (BTC) price consolidates around $66,500 levels, key on-chain development suggests a strong exchange of hands among the Bitcoin owners. Bitcoin whales are back in action while old hands have been distributing their coins once again.
Old Bitcoins Moving To New Holders
CryptoQuant CEO Ki Young Ju recently reported a significant milestone in Bitcoin’s average dormancy, reaching its highest level in 13 years. This surge suggests a notable transition of long-held Bitcoins to new owners.
The observation points to a potential reshuffling of Bitcoin’s ownership landscape, sparking curiosity about the identities of the emerging major shareholders in the cryptocurrency.
#Bitcoin’s Average Dormancy hit a 13-year peak recently, indicating a transfer of old Bitcoins to new holders.
The cap table for Bitcoin is shifting, potentially altering the ownership landscape.
Who are the new major shareholder(s)? pic.twitter.com/XaurClSW4r
— Ki Young Ju (@ki_young_ju) April 24, 2024
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