On March 30, CryptoQuant analyst Maartunn reported that about 8,000 Bitcoins that have been silent for five to seven years have been transferred recently, exacerbating current bearish concerns about cryptocurrencies, which are reportedly transferred in a block and worth $674 million.
Generally speaking, a large amount of BTC is transferred from a long-term dormant state, often interpreted as a signal of upcoming selling pressure, which leads to a sharp pullback in prices, but there are other non-bearish motivations, such as institutional investors or whale internal wallet sorting.
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