There has been some activity in long-term holding wallets. 16,011 bitcoins were moved from wallets that have held them for 5 to 7 years. A few hours later, 14,558 bitcoins were transferred from wallets that have held them for 3 to 5 years. These bitcoins have not been sent to exchange wallets yet.

The important thing to note here is that if these wallets send the bitcoins to exchanges, it could create selling pressure and fear, potentially causing a temporary drop. Even if the impact is not very significant, it will create short-term pressure.

For now, there is nothing to worry about.

Written by XBTManager