news on March 30th, according to Bitcoinist, CryptoQuant analyst Maartunn reported that approximately 8,000 Bitcoins that have been dormant for five to seven years were recently transferred, intensifying current bearish concerns about cryptocurrency. These Bitcoins were transferred in a single block, with a value reaching $674 million. This transfer occurred after a series of recently activated idle Bitcoin wallets. On March 24th, a Bitcoin wallet that had been inactive for 14 years suddenly transferred 100 , valued at $8.5 million. Meanwhile, in early March, six ancient Bitcoin wallets also transferred nearly 250 , valued at $22 million.

Generally, a large amount of moving from a long-term dormant state is usually interpreted as a signal of imminent selling pressure that could lead to a significant price pullback. However, there are other non-bearish motivations, such as institutional investors or whale internal wallet reorganization. Nevertheless, there are potential non-bearish motivations behind such transactions, including institutional investors or large holders' internal wallet shuffling and cold storage restructuring.