Bitcoin Surges Over 20% as Major Transfers Trigger Market Activity

Bitcoin surged over 20% on Monday, rising from a low of $85k to above $90k. This rally followed US President Donald Trump's announcement of a potential strategic reserve for Bitcoin and select altcoins, including Solana and Ethereum. Major movements were noted among long-term Bitcoin wallets, with 180 BTC transferred by wallets aged 7-10 years as prices approached $96k.

Key Points

XRP rose more than 30%, reflecting the broader market momentum.
On-chain analysis showed significant trading activity among long-term holders.
Bitcoin’s price retreated below $85k after the initial surge.
In the last 24 hours, Bitcoin traded between $83k and $93k.
Whales and long-term holders are showing signs of impatience with current price levels.
Wallets holding Bitcoin for 5-7 years sold 1,453.40 BTC, indicating potential profit-taking.

Despite recent sales, some analysts remain optimistic about Bitcoin's future price potential.