Bitcoin Demand Remains Steady Despite Dip as Dormant BTC Movement Raises Cautious Speculation

Key Points

1. Approximately 160,000 BTC have been accumulated in the last 30 days by wallets holding coins for over a year.

2. A rare transfer of 1,000 BTC, untouched for 7 to 10 years and valued at approximately $114.4 million, recently occurred.

3. Bitcoin’s price recently stabilized just above $114,000 after a sharp decline, with the Relative Strength Index (RSI) near 47.8 and On-Balance Volume (OBV) at 1.73 million.

4. Long-term holders (LTHs) continue to accumulate BTC, providing price stability by holding through volatility.

5. Movements of dormant BTC often trigger speculation about sell-offs but may also indicate portfolio rebalancing or strategic moves.