Bitcoin Long-Term Holders Transfer 65,000 BTC Daily Amid Macro Risks

Long-term Bitcoin holders moved over 65,000 BTC daily for two days, with 14,000 BTC sent to exchanges. Analyst cites Fed rate cuts and geopolitical tensions as potential macro risks.

Woofun AI data shows that long-term Bitcoin holders transferred more than 65,000 BTC in each of the past two days, excluding internal entity movements. This activity has reversed the net holding growth trend observed since May, resulting in stagnant levels through July. Approximately 14,000 BTC were deposited to exchanges, including a transfer of 2,628 BTC by a Trump-affiliated public company to Crypto.com. The remaining destinations remain unidentified.

Analyst Murphy highlighted several macro-level risk factors, including the Federal Reserve's recent interest rate cut with a 9 to 3 split vote, Middle East conflicts, oil price volatility, and highly concentrated valuation of the AI sector in the US stock market relying on debt and private credit financing.

Additionally, yen carry trade positions have reached near-historically extreme net short levels. Murphy noted that the current Bitcoin supply structure may amplify sensitivity to these external pressures.