BlockBeats news, on March 6, according to on-chain data released by CryptoQuant, before Bitcoin reached an all-time high and plummeted, 1,000 Bitcoins worth approximately US$69 million were transferred to Coinbase. These addresses were more than ten years old. history, the research firm said the addresses were linked to miners.

Bradley Park, an analyst at CryptoQuant, said that selling 1,000 Bitcoins is likely to trigger a significant price drop, considering that trading platform order books show 5 to 10 Bitcoins of liquidity for every $100 price movement. Especially when traders are waiting to short Bitcoin’s all-time high price, as they were on Tuesday. Market optimism remains, and there is still much room for development in the blockchain market in the future.