[Analysis] "10,000 BTC Moved for the First Time in 14 Years…A Signal of Volatility"
Suehyeon Lee
Summary
- An analysis indicates that the movement of 10,000 Bitcoins (BTC), which had not been active for 14 years, could signal upcoming volatility.
- A CryptoQuant author noted that this transfer is the largest among holdings kept for over 10 years since November 2022.
- Market participants tend to interpret this data as a sell signal, which could forecast significant volatility in the market.
An analysis suggests that the movement of 10,000 Bitcoins (BTC) that had not moved for 14 years could signal upcoming volatility.
On the 4th (local time), CryptoQuant author Mignolet reported, "10,000 BTC moved from a dormant address for the first time in 14 years, and this transfer is the largest among the amounts held for over 10 years since the cycle low in November 2022."
He added, "Most market participants tend to interpret such data simply as a sell signal. Although it’s unclear exactly where the transferred funds are heading, this rare movement of old coins has been observed and could signal significant volatility in the market."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
