Analyst: Over 230,000 BTC transferred on-chain, scale hits new high since 2026

Odaily Seuto Daily News Analyst Darkfost posted that the largest Bitcoin UTXO spending activity since 2026 has appeared on-chain, with the cumulative spending amount of single UTXOs worth over $1 million exceeding $21 billion, involving more than 230,000 BTC, and the related operations likely came from the same entity. Among them, most UTXOs had previously been dormant for 1 to 6 months, and another approximately $4.6 billion came from long-term holders (LTH) with holding periods of 1 to 3 years.

Darkfost pointed out that these bitcoins may have mainly been transferred between different addresses, and there are currently no obvious signs of flows to exchanges, so it cannot be concluded from this that there was large-scale selling. If the subsequent spending of the relevant UTXOs corresponds to realized profits or losses, on-chain realized profit and loss indicators may show significant changes.