A well-known analyst from CryptoQuant, Maartunn, has reported a surprising movement of 8,000 Bitcoin (BTC) that had been untouched for five to seven years. This sudden transfer, worth around $674 million, has raised concerns in the crypto community, especially as Bitcoin struggles to stay above $89,000.
This event comes at a time when Bitcoin is under selling pressure due to economic concerns, including US President Donald Trump’s new trade tariffs, which have already impacted market sentiment.
$674 Million in Old Bitcoin Transfers—A Sign of a Market Drop?
Bitcoin analysts use a metric called Spent Output Age Bands to track the movement of old BTC. Maartunn’s analysis shows that these 8,000 BTC, last moved between 2018 and 2020, were suddenly transferred in a single transaction.
This isn’t the first time dormant Bitcoin has been reactivated recently:
- March 24, 2025: A 14-year-old Bitcoin wallet moved 100 BTC (worth $8.5 million).
- Early March 2025: Six old wallets transferred 250 BTC (worth $22 million).
Usually, when long-held Bitcoin moves, it suggests that early investors or institutions might be preparing to sell. Large sell-offs can trigger price drops, as was seen in previous cycles.
However, there could be other reasons behind this transfer:
✅ Institutional wallet restructuring (big investors moving funds internally).
✅ Cold storage reorganization (moving Bitcoin to new, more secure wallets).
✅ OTC (Over-the-Counter) deals (private sales that don’t affect public exchanges).
Since the final destination of these 8,000 BTC is unknown, investors are watching closely to see if this move will impact Bitcoin’s price.
Bitcoin Price Update & Trump’s Trade War Impact
Bitcoin has struggled in the last 24 hours, dropping 4% following the US government’s decision to impose a 25% tariff on auto imports from China, Mexico, and Canada starting April 3.
This isn’t the first time crypto markets have reacted negatively to Trump’s trade policies. Similar market drops happened in February and March when new tariffs were announced.
Investors fear that such policies could slow down the economy, making riskier assets like Bitcoin less attractive. If this fear spreads, we could see more investors pulling out of BTC.
Current Bitcoin Market Stats (as of today):
- Price: $83,693 (-0.72% today, -2.53% over the last 30 days)
- Market Cap: $1.66 trillion (BTC still dominates 61.1% of the total crypto market)
- 24-Hour Trading Volume: Up 19.38%, currently at $31.58 billion
With these market conditions, traders are on edge, watching whether Bitcoin can recover or if more selling pressure will push prices lower.
