1–3 Month Bitcoin Holders Move 107,760 BTC On-Chain, Biggest Daily Shift Since Oct. 14

A total of 107,760 BTC held by addresses that acquired coins 1 to 3 months ago moved on-chain in a single day, marking the largest daily "1m3m spent output" reading since Oct. 14, more than seven months ago. The prior sessions recorded 16,012 BTC and 5,746 BTC, respectively. This 1–3 month cohort largely represents buyers from late February through late April, a period that coincided with the rally from roughly $74,000 to $84,000. When activity from this group surges, it typically signals reaction from recent buyers rather than fresh accumulation. With BTC trading near $73,500 as the 107K BTC move hit the chain, much of the cohort appears to be at a loss or close to breakeven. The flow points to limited conviction from these newer holders. Price momentum has also weakened. Bitcoin's 30-day momentum metric has been negative since May 22 and has deteriorated for eight straight days. The path has been clear: +20.5% on May 5, +7.6% by May 14, a drop through zero on May 22, and a latest reading near 4.07%. The shift suggests a reversal rather than a gradual slowdown, aligning with the renewed surge in 1–3 month cohort activity. The pattern resembles short-term capitulation: recent buyers moving coins as momentum fades, while longer-term holders remain largely inactive. The key question is whether this wave shakes out weak hands or marks the start of a broader unwind. Next, traders will watch where the coins go. Exchange inflows would strengthen the case for imminent selling pressure. Transfers to cold storage or OTC venues would look more like redistribution under stress. In total, 107,760 BTC moved in a day from holders with a 1–3 month cost basis—whether this is rotation or exit is the signal the market is now waiting for.