Bitcoin holders with coins dormant for more than five years have shown a significant increase in activity, CryptoQuant analyst Darkfost reported. The 90-day moving average of spent UTXOs from this group has risen to 1,500 BTC, roughly double the level recorded in May. Darkfost said the recent consolidation period appears to have raised doubts across investor groups, including experienced long-term holders. The transfers do not necessarily indicate selling, as some BTC may be moving to more secure storage methods following issues such as the Coldcard incident.