Bollcoin, October 23 — Analyst Darkfost posted that the largest Bitcoin UTXO spending event since the start of 2026 has occurred on-chain, worth more than $21 billion and involving over 230,000 BTC. Among them, UTXOs each worth more than $1 million were spent in a concentrated manner, and the related operations likely came from the same entity. Broken down by UTXO holding time, most of the related bitcoin had been dormant for 1 to 6 months, while about $4.6 billion came from long-term holders (LTH) with holding periods of 1 to 3 years. Darkfost noted that this activity is more likely the same entity transferring assets between different addresses rather than direct selling, since no similarly sized surge in exchange-related UTXO spending has been observed so far. However, UTXOs being spent does not necessarily mean the assets were sold, and the actual impact still needs to be judged in light of subsequent on-chain flows.