A substantial spike in Bitcoin’s Age Consumed metric has caught the attention of on-chain analysts, with the indicator reaching 15.72 million. This has been one of its highest readings in recent months, and definitely not a great Bitcoin news for the market.
This metric, which tracks the movement of previously dormant Bitcoin multiplied by the number of days since those coins last moved, suggests major activity among long-term holders.
The spike coincides with Bitcoin’s continued price decline to $78,200, breaking below the critical 200-day moving average amid large whale transfers totaling over 6,000 BTC between exchanges and unknown wallets.
Bitcoin News: Age Consumed spike signals movement of long-dormant Bitcoin
The Bitcoin Age Consumed metric has registered a sharp increase to 15.72 million. This has been one of the largest spikes visible on the chart since September 2024. This on-chain indicator measures how many coin-days are destroyed when previously inactive bitcoins move. It also gives insight into the behavior of long-term holders.
According to data from Santiment, this notable increase suggests coins that had remained static for extended periods have suddenly been transferred.
The timing of this spike appears on the chart alongside Bitcoin’s price decline to $78,200. This raises questions about whether long-term investors are reducing positions during the current market weakness.
The chart shows a clear pattern where previous Age Consumed spikes have often coincided with price volatility. Throughout November and December 2024, when Bitcoin was climbing from $70,000 to over $100,000, multiple smaller spikes in Age Consumed occurred.
This movement of older coins comes as whale tracking services report several large Bitcoin transfers. Whale Alert has identified multiple high-value transactions, including 4,420 BTC ($360.8 million) moving from Kraken to an unknown wallet, 800 BTC ($64.3 million) transferring from an unknown wallet to Binance, and 751 BTC ($61.4 million) moving to Bybit.
Collectively, these transfers represent over 6,000 BTC ($486 million) changing hands within a short timeframe.
Price drops below 200-day moving average as technical levels break
Bitcoin has fallen below its 200-day moving average for the first time in this bull cycle, according to analyst Ali, who identifies $66,000 as the next critical support level based on the Mayer Multiple. This technical breach increases the likelihood of further downside as Bitcoin has consistently traded above this long-term average since October 2024.
The price decline has accelerated in March, with Bitcoin dropping from around $95,000 in early February to current levels near $78,200. Chart patterns show a clear downtrend since January 2025, with each recovery attempt failing to establish higher lows.
Rekt Capital’s analysis points to $71,310 as a major quarterly support level, describing it as
“The Post-Halving Re-Accumulation Range of ~$60,000 to $70,000.”
This level gains importance as Bitcoin has already closed a weekly candle below the range low, confirming what Rekt Capital calls a “candle-bodied downside deviation.”
The recent price action shows concerning differences from previous post-halving patterns amid concerning Bitcoin news. While Bitcoin produced a similar downside deviation after the last halving, the current move has “turned into an entire candle body and there are no signs of a Higher Low developing at the moment,” according to Rekt Capital.
Despite this difference in pattern formation, the analyst notes that “the magnitude of both of these downside deviations are very similar, of around 16-17%.”
Whale movements to exchanges raise concerns
Recent blockchain data shows large Bitcoin transfers coinciding with the Age Consumed spike. According to Whale Alert, several high-value transactions have happened within a short timeframe, including 4,420 BTC ($360.8 million) moving from Kraken to an unknown wallet.
More concerning for market participants are the inflows to exchanges, with 800 BTC ($64.3 million) moving from an unknown wallet to Binance and 751 BTC ($61.4 million) transferred to Bybit. These exchange deposits often signal potential selling intent.
Historical patterns show that Age Consumed spikes often precede periods of heightened volatility. The current 15.72 million reading ranks among the highest seen in the past six months. This suggests unusual activity among long-term holders who typically remain inactive during bull markets.
