Cryptocurrency analysts record a record bitcoin transaction exceeding $ 3.7 billion

Last Saturday, August 16, CryptoQuant analysts recorded a large-scale movement in the bitcoin network BTC $117,298.00 Mezo Wrapped BTC -2.67% Market capitalization $42.17 million VOL. 24 hours $1.91 billion - 31,968 BTC purchased three to five years ago were transferred. The total value of the transaction at that time exceeded $ 3.7 billion.

Experts note that this is the first such surge in over a year, making it a rare occurrence. According to historical data, such movements often coincided with turning points in the bitcoin market and signaled a change in price trends.

For example, on January 24, 2024, 33,803 BTC were moved, which coincided with the formation of a market bottom. on March 23, 2024, a record 95,090 BTC was recorded, which corresponded to a local peak. on June 22, 2024, the movement of 43,641 BTC increased pressure on the market during the downward phase, while July 30 (29,994 BTC) and December 24 (23,012 BTC) coincided with the formation of new local highs.

CryptoQuant emphasized that such surges always deserve attention, as the market can react again by changing dynamics after large volumes of coins are moved.

Earlier, Canary Capital CEO Stephen McClurg said that bitcoin has the potential to rise to $ 150,000 as early as 2025.