In an article posted to CryptoQuant on August 13, anonymous trader XBT Manager wrote that between August 11 and August 12, a total of 29,206 bitcoins were transferred to the chain, which had been sitting idle for up to three years.
XBT said that 18,536 BTC were transferred on August 11, which had been idle for 2-3 years, putting significant pressure on the bitcoin price. A few hours later, another 5,684 BTC had also been transferred, which had been idle for 3-6 months.
On August 12, 4,986 BTC (which had been idle for 3 to 12 months) and 2,394 BTC (which had been idle for 3 to 5 years) were transferred to the blockchain.
1.70 billion Dollar's "Dormant" Bitcoin Transfer, Bitcoin at Risk of Selling Pressure
2024-08-14 03:39:44
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