Bitcoin Holders Reawaken—Large Transfers Follow $90K Recovery

Bitcoin, the world’s top digital asset, surged by over 20% Monday from last week’s lows, with major altcoins following suit. The crypto’s rally immediately came after US President Donald Trump’s announcement that the administration is considering a strategic reserve covering Bitcoin, Solana, Cardano, Ethereum and XRP. Bitcoin’s response was immediate—from a low of $85k on March 2, the alpha coin bounced past $90k on Monday.

The day’s price action also came with massive fund movement, particularly among old Bitcoin wallets. According to CryptoQuant, old BTC whale wallets between seven and 10 years old transferred around 180 BTC immediately after the asset’s price rebounded from its lows and flirted with $96k.

Monday’s Bitcoin price action created a ripple effect in the broader crypto market. As its price briefly strengthened, other major altcoins like XRP and ADA followed suit. For example, XRP even surged by more than 30% on Monday, becoming one of the best-performing assets for the day.

However, other interesting developments happened on-chain, according to an analyst. Maartunn, CryptoQuant on-chain analyst, shared an interesting screenshot showing trading activities among Bitcoin long-term holders. 

Old Bitcoin Alert

Serious movement of 7+ year-old BTC as price surges past $95K! pic.twitter.com/ti3eJAkfCp

— Maartunn (@JA_Maartun) March 3, 2025

In a Twitter/X tweet, Maartunn shared an image showing a spike in activity for seven to 10-year-old wallets. On-chain data revealed that these wallets moved over 180 Bitcoins as the price hit $96k. In addition, wallets holding BTC for at least 10 years have moved 120 tokens as well.

Bitcoin’s price rally was short-lived, as it has retreated to below $85k. In the last 24 hours, the top crypto asset has traded wildly between $83k and $93k. The asset’s price is down 8.8% from last week’s level and 16.4% from last month’s. 

Bitcoin’s data and trading patterns suggest that some whales and long-term holders are getting impatient with its price performance. An analytical exposition also indicates that fund transfers have increased among investors who entered before the last two halvings.

Maartunn also noted the shift in funds among wallets between five and seven years old. As Bitcoin’s price hovered around $93k, these addresses transferred 1,453.40 units. These movements suggest sales, indicating a possible loss of enthusiasm.

Interestingly, these wallets have purchased Bitcoin at around $25,000, meaning these holders have realized a staggering profit given the asset’s current price of $83k. While these whales unloaded some of their holdings, some crypto analysts remain bullish on Bitcoin. Ali Martinez, for example, suggested that Bitcoin’s price is at a bargain. In a recent tweet, Martinez shared that now is the best time to invest in Bitcoin.

Featured image from Pexels, chart from TradingView