The popular cryptocant analyst Maartunn reports that 8,000 Bitcoin (BTC) that have been inactive for five or seven years have suddenly moved, which increases current low concerns in cryptography. This development occurs after a fairly adventurous week, since BTC prices fought to break over $ 89,000, after an initial stable optimistic rise, before succumbing to large sales pressures promoted by the Hawkish rates policy of the president of the United States, Donald Trump.
$ 674 million in old BTC transfers in a single block: alarm reason?
The age of production spent are a crucial metric to measure how long they remain inactive before moving. According to Maartuun in a X post, This metric has recently revealed that 8,000 BTC worth $ 674 million that were last transferred between 2018 and 2020 have recently moved into a single block that attracts significant attention to the market.
This transfer follows a latent Bitcoin high activations chain. On March 24, an inactive Bitcoin wallet of 14 years Suddenly 100 bitcoin moved valued at $ 8.5 million. Meanwhile, at the beginning of March, six old Bitcoin wallets also transferred almost 250 BTC for a value of $ 22 million.
In particular, the most recent transaction reported by Maartuun is a much larger size with potentially strong implications for an uncertain market in Bitcoin. In general, a movement of such a large amount of BTC of long -term latency is generally interpreted as a signal for incoming sales pressure that leads to large price corrections.
However, there are other potential reasons not for presentation behind such transactions, such as internal wallet, institutional investors or large holders, as well as a cold storage reorganization. Currently, the owners of the new wallets that receive 8000 are unknown, which reduces the potential of a bearish reaction from the BTC holders.
General Bitcoin price description
On the last day, Bitcoin prices decreased by 4.00% after the United States government announced intentions to impose a 25% rate on cars and car goods in China, Mexico and Canada from April 3. This marks the last negative reaction of the Cryptography Market to the international commercial policies of President Trump after similar incidents at the beginning of February and mid -March.
These measures of the Donald Trump administration are flame fears of a possible economic slowdown that could obtain more high -risk assets, such as BTC of investor portfolios, which leads to an additional disadvantage.
At the time of publication, Bitcoin currently lies at $ 83,693 that reflects a decrease of 0.72% and 2.53% in the last seven and 30 days respectively. Meanwhile, the daily negotiation volume increases by 19.38% and is valued at $ 31.58 billion. The BTC market capitalization is now $ 1.66 billion and still represents 61.1% dominant in the total cryptography market.
BTC negotiating at $ 83,727 in the daily table | Fountain: BTCUSDT CHART IN TRADINGView.com
