In a dramatic market development, Bitcoin experienced a remarkable 20% surge on Monday, briefly touching $96,000 before retreating. The catalyst? President Trump’s controversial announcement regarding a strategic crypto reserve plan, which sent shockwaves through the digital asset market.
Long-Term Holders Make Their Move
On-chain data revealed significant activity from Bitcoin’s oldest wallets, with CryptoQuant reporting that addresses holding BTC for 7-10 years transferred approximately 180 BTC as prices approached the $96,000 mark. Even more notably, wallets dormant for over a decade moved 120 BTC, signaling a potential shift in long-term holder sentiment.
Market Impact and Altcoin Response
The Bitcoin rally triggered a broader market response, with XRP leading the altcoin surge at a 30% gain. However, the celebration was short-lived as Bitcoin retreated below $85,000, demonstrating the market’s ongoing volatility.
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Whale Activity Analysis
The most striking development came from wallets aged 5-7 years, which moved a substantial 1,453.40 BTC. These addresses, which acquired Bitcoin at approximately $25,000, have realized significant profits despite recent market turbulence.
Expert Perspectives
While some analysts interpret the whale movements as a sign of profit-taking, others remain optimistic. Crypto analyst Ali Martinez suggests the current price levels present a buying opportunity, though investors should remain cautious given the market’s recent volatility.
Source: NewsBTC