270K Dormant Bitcoin BTC Move as JPMorgan Backs BTC Loans

Bitcoin climbed above $111K as dormant coins moved and JPMorgan accepted Bitcoin BTC as collateral for loans. Traders eyed $113K resistance ahead of CPI data, with on-chain analysts noting historic long-term holder activity.

Bitcoin BTC Price Recovers as Dormant Coins Wake Up

Bitcoin (BTC) traded near $111,350 on Oct. 24 after reclaiming crucial short-term support. The move coincided with on-chain data showing a record surge in old Bitcoin movements, alongside renewed institutional adoption led by JPMorgan.

According to OnChainSchool, 2025 has already broken records for the movement of coins that have been dormant for seven years or more. Over 270,000 BTC moved this year, surpassing the 255,000 BTC seen in 2024 and 59,000 BTC in 2023, with two months remaining in the year.

“More and more early era coins are waking up,” the report noted, attributing the rise to old miners relocating reserves, wallet migrations, and partial liquidations amid high prices.

Institutional Confidence Grows as JPMorgan Embraces Bitcoin BTC Collateral

Market sentiment received another boost as JPMorgan, a $4 trillion banking giant, began accepting Bitcoin as collateral for loans. The announcement, first shared by @CryptosR_Us, marked a major shift in traditional finance’s stance toward digital assets.

“Clients can now use BTC to secure loans,” the post stated, calling it “a major step toward mainstream institutional adoption.” The development could help legitimize Bitcoin’s use in credit markets, potentially influencing other large lenders and DeFi platforms.

The move also aligned with a broader pattern of banks integrating crypto custody and tokenization services. Institutional exposure to Bitcoin-linked products has grown rapidly since the U.S. Securities and Exchange Commission approved spot Bitcoin exchange-traded funds earlier this year.

Traders Eye $113K–$115K as Key Resistance Levels

Traders maintained cautious optimism following the price rebound. Crypto Tony told followers he remained long above $108,200, noting that Bitcoin was “about to reclaim the EQ of the range,” which he viewed as bullish.

He set his next target at $113,650, aligning with the Fibonacci 0.382 retracement level shown in TradingView data. Another trader, Ted, said the current move could face resistance around $113,000–$114,000, depending on the reaction to upcoming Consumer Price Index (CPI) data.

“If this pump turns out to be a fakeout like the past ones, expect another sharp correction,” Ted warned.

Market Awaits CPI Data for Macro Direction

The U.S. inflation report scheduled for release later today could define Bitcoin’s next major move. Traders such as @KillaXBT described the current market as “a slow crab into CPI,” highlighting the mixed sentiment in derivatives.

“Perps are pushing as spot bids sell into the highs,” he wrote, suggesting possible volatility if the CPI numbers deviate from expectations. Killa added that a break below the rising wedge trendline could push BTC back to the weekly open near $108,000, while momentum toward the weekly high could send it to $115,000–$116,000.

Old Bitcoin BTC Supply Dynamics Tighten Circulation

Despite short-term volatility, long-term Bitcoin holders appeared to be repositioning. On-chain data suggested that the reawakening of old coins did not necessarily signal mass selling but rather wallet consolidation and security upgrades.

Historically, movement of long-dormant coins has preceded both rallies and corrections, depending on broader market liquidity. This year’s uptick in aged coin activity reflects a shift in market maturity as early miners and institutional custodians adjust to new compliance and custody frameworks.

The Fibonacci extension levels between $115,000 and $119,000 now serve as resistance, while the 200-day moving average, located near $108,469, continues to act as major support. The 50-day moving average remains slightly above, near $114,153, suggesting that a sustained breakout could require higher spot demand.

Institutional Adoption Meets Historic On-Chain Activity

The convergence of two trends, JPMorgan’s acceptance of Bitcoin as collateral and record-level movement of dormant BTC, has created a rare overlap between institutional finance and early crypto history.

While traders debate short-term resistance levels, analysts note that the long-term impact of such institutional participation could stabilize liquidity and credit access for Bitcoin holders.

Still, the macro outlook remains contingent on inflation and interest rate expectations. If CPI data shows slower inflation, risk assets like Bitcoin could benefit from renewed speculative inflows.

Cautious Optimism Ahead of November Close

For now, Bitcoin remains range-bound between $108,000 and $115,000, with traders balancing macro risk against improving institutional narratives.

As Crypto Tony summed up, “While we’re above $108,200, I’m staying long.” His stance mirrors market sentiment a cautious yet confident tone that reflects both technical and structural resilience.

Whether JPMorgan’s move sparks a new wave of bank-led crypto adoption or simply marks another milestone in Bitcoin’s slow march toward mainstream finance, the message is clear: old coins are waking up just as Wall Street finally steps in.