More than 230,000 BTC were moved on-chain, with a total value exceeding $21 billion.

Analyst Darkfost stated that the largest Bitcoin UTXO spending activity since 2026 has occurred on-chain, with individual UTXOs exceeding $1 million in value totaling over $21 billion and involving more than 230,000 BTC. All these operations originated from the same entity. Of this, approximately $4.6 billion came from long-term holders with holding periods of 1 to 3 years. Darkfost noted that these Bitcoins were primarily transferred between different addresses, with no indication yet of them flowing to exchanges.