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

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 cryptocurrencies. It is reported that these bitcoins were transferred in one block, with a value of $674 million. Generally, when a large amount of BTC is transferred from long-term dormancy, it is usually interpreted as a signal of imminent selling pressure leading to a significant price correction. However, there may also be other non-bearish motives, such as institutional investors or whale wallet reorganization.