CryptoQuant Analyst: Approximately 8,000 Bitcoins dormant for 5-7 years have recently been transferred.

BlockBeats News, March 30th, CryptoQuant analyst Maartunn reported that about 8,000 Bitcoins that had been dormant for five to seven years were recently transferred, intensifying current bearish concerns about cryptocurrency. It is reported that these Bitcoins were transferred in a single block, amounting to $674 million.

Generally, a large amount of BTC being moved from long-term dormancy is often interpreted as a signal of upcoming selling pressure, leading to a significant price correction. However, there are also other non-bearish motives, such as institutional investors or whale wallet reorganization.