CryptoQuant analyst: About 8,000 bitcoins that have been dormant for 5-7 years have recently been transferred

CryptoQuant analyst Maartunn reports that around 8,000 bitcoins that have been dormant for five to seven years have recently been transferred, adding to the current bearish concerns about the cryptocurrency, which is said to have been transferred in a block with a value of $674 million. Generally speaking, a large amount of BTC has been transferred out of a long-term dormant state, which is usually interpreted as a signal of impending selling pressure, resulting in a sharp price correction, but there are other non-bearish motives, such as institutional investors or whale internal wallet collation.