According to ChainCatcher, CryptoQuant analyst Maartunn reported that approximately 8,000 BTC that have been dormant for five to seven years were recently transferred, intensifying current bearish concerns about cryptocurrency. These BTC were reportedly transferred in a single block, with a value reaching $674 million.

Generally, a large amount of BTC moving from a long-term dormant state is usually interpreted as a signal of potential selling pressure that could lead to a significant price correction. However, there can be other non-bearish motivations, such as institutional investors or whale wallet reorganization.