Analysts: Aging BTC Regains Activity, On-Chain Migration Wave May Push Moving Averages Higher
According to monitoring by CryptoQuant analyst nocoffeenobrain, coins with a holding age of 1–3 years and over 3 years began showing signs of activity as early as late September, coinciding with BTC prices rising from the mid-$70,000 range to the mid-$80,000 range. Following the recent Ledger hack, which prompted numerous users to migrate assets to new signing devices and replace their seed phrases, the 7-day moving average is expected to climb further over the next few days. The analyst noted that a similar pattern occurred previously: during January to February this year, when BTC dropped from $90,000 to the mid-$60,000 range, and between July and August while BTC consolidated around the mid-$60,000 range, both of these holding age cohorts exhibited synchronized activity.
