Massive Bitcoin Transfers Spark Market Turmoil and Sell-Off Concerns
Publication Time:2024-08-14 11:41:06
According to Golden Finance's report, between August 11th and August 12th, 29,206 BTC were moved onto the blockchain. Among these, 18,536 BTC had been inactive for 2-3 years, while another 5,684 BTC had been idle for 3-6 months. XBT Manager highlighted in an article that the activation of these long-unmoved Bitcoins has significantly impacted the market. Following this, on August 12th, another 4,986 BTC and 2,394 BTC were transferred to the blockchain, with the former having been inactive for 3-12 months and the latter for 3-5 years. The large-scale transfers of Bitcoin have undoubtedly intensified concerns over potential sell-off pressure, sparking attention and discussions among investors.
Market Volatility
Bitcoin
Blockchain
Sell-Off Pressure