Bitcoin Spending Surge Sparks Analyst Speculation

A significant increase in spending from long-term Bitcoin (BTC) holders emerged in May, reaching a level not seen since February. According to data analysis by Glassnode, this activity was primarily driven by those holding for 3–5 years who accounted for $2.16 billion of the outflow. The 2–3 year holding group followed with $1.41 billion, while wallets holding BTC for 1–2 years moved around $450 million. This represents the fifth-largest spike in 1–5 year cohort spending during this market cycle. How May’s activity compares to past highs provides insights into Bitcoin’s future.