Bitcoin price analysis sees ‘strong rally’ as old coins become dormant

Bitcoin price analysis sees ‘strong rally’ as old coins become dormant

Özet: Kripto piyasasında önemli gelişmeler yaşanıyor.

Bitcoin (BTC) onchain transaction data is hinting at the start of a new uptrend as long-term holders retreat from selling.

Key points: Data from onchain analytics platform CryptoQuant shows that investors holding coins for 18 months or longer are starting to become less active.

16, the 18-month-plus cohort’s share of realized cap — the value of all coins at the price they last moved onchain — hit 26.98%, its highest since mid-November 2024.

Analyzing the data, CryptoQuant sees a historical trend that preceded Bitcoin bull markets now repeating.  “The pattern has always been the same: when the proportion of Bitcoin held for more than 18 months across the entire network rises and then starts to decline, a strong rally follows,” it wrote in a blog post.

It included a chart of UTXO (Unspent Transaction Output) age bands, sized according to their contribution to the realized cap.

Reduced onchain spending by long-term investors reflects a move to maintain BTC exposure to increase profitability in the long term.

The contribution by these investors remained in a broad uptrend beginning in November 2025, with profit-taking activity rising as BTC/USD fell further from its current all-time high of $126,200.

CryptoQuant noted that the UTXO trend reversal remains modest, implying that the market is witnessing only the very start of more bullish conditions.

“The market has now shifted into a bullish cycle, but we still appear to be in the early stages of the cycle, where such a signal has not even begun yet,” it commented.  “This looks like a point where we can remain positive about both the potential upside and the duration of the rally.” Among long-term holders, only the 18-month-to-two-year cohort is currently in net loss, with a cost basis of $93,193.

Analiz: Piyasa hareketliliği devam ediyor.