A chunk of Bitcoin held by recent buyers just got moved — and it's the biggest such shuffle in over half a year. On May 29, addresses classified as short-term holders (coins held 1 to 3 months) transferred 107,760 BTC in a single day, the largest volume in that age band since at least October 2025. The transfer happened while Bitcoin sat below $74,000, meaning most of those coins were likely moved at a loss or very close to breakeven.
The scale of the shift
107,760 BTC is roughly $7.9 billion at current prices. That's a lot of coins changing hands in one day from a cohort that usually isn't that active. The last time short-term holders moved this much was more than seven months ago, during a different price environment. Now, with BTC hovering around $73,410 and down 0.4% in the past 24 hours, the timing isn't great for anyone who bought in the last few months.
Momentum has flipped
Bitcoin's Price Momentum indicator — a gauge that tracks how fast price is changing relative to recent history — has been negative since May 22. It sits at -4.07% as of May 30. That's a sharp swing from May 5, when the same indicator hit a near one-year high of +20.5%. Momentum turned fast, and it hasn't recovered.
History says May ends red
May is on track to close in the red, and if it does, that fits a pattern: in bear-market years, Bitcoin has never strung together three consecutive months of positive performance. With April already down and May likely following, the historical odds aren't great for a quick rebound. That doesn't mean it can't happen, but the data leans one way.
What to watch now
The obvious question is whether these moved coins are heading to exchanges for sale or being redistributed to cold storage or new wallets. The analyst cited in the data notes that monitoring exchange inflows will be key. If a wave of those 107,760 BTC shows up on order books, it could add selling pressure. If they disappear into hodler addresses, it's a different story. So far, the numbers don't show that yet — but the transfers happened just yesterday.
