A Bitcoin wallet, which had not seen any activity since 2018, suddenly transferred 8,000 BTC. Here’s a look at its impact on the market.Currently, Bitcoin is trading at approximately $67,302, marking a near 6% decrease over the past week, and a slight drop of 0.7% in just the past 24 hours.
The sequence of these transactions raises several questions about the intentions behind them and their potential market impact. Historically, when dormant wallets with large balances become active, it often signals potential selling pressure in the market, especially if funds are moved to exchange addresses.
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