A large amount of sleeping bitcoin (BTC) was recently transferred to the chain, which increased speculation about the effect of the potential market. According to Cryptoquant analyst Marton8,007 BTC, between the ages of three and five years, is just active. When the active bitcoin moves long, it sometimes indicates that their holders may prepare for sale, unify the holdings, or transfer money for security reasons, among other reasons.
Amid this large movement, the price of bitcoin remains in red, and is struggling to get ascending momentum. After three consecutive days of losses, BTC witnessed a short recovery, but it failed to maintain the bullish momentum. At the time of this report, Bitcoin has decreased by 3.3 % in the past 24 hours to 86.076 dollars, after declining from Monday to Wednesday. The loss of 12.6 % during the past three days is the largest since the FTX bankruptcy in November 2022, according to TradingView data.
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Bitcoin’s failure to maintain recovery indicates that the wider total economic factors and investor morale continues to influence prices.
The price of bitcoin remains in red
Bitcoin fell to its lowest fresh levels on Wednesday, reaching 82,111 dollars before a slight recovery to nearly $ 86,000. Losses are identical to the encryption markets in American stocks, so market analysts are now looking for macroeconomic indicators to support Bitcoin gathering in the short term.
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On February 21, 2025, Bybit witnessed one of the greatest breaches in the history of the cryptocurrency, losing 403,996 ETH (about $ 1.13 billion) from its cold portfolios due to the smart contract attack. This breach pulled panic, as the total flows of the stock exchange reached about $ 4.3 billion through Bitcoin and Stablecoins.
The market has deteriorated quickly, which led to wide sale. Bitcoin’s monthly performance decreased to -13.6 %, as it returned to the achieved “air gap” from $ 70,000 to $ 88,000, which is a low -cost density area. Initially, long -term sales are nourished, this weakness was exacerbated due to the breastfeeding bybit, which increased passive momentum.
If the demand fails to revive, there is still a greater risk on the downside, which makes the next few weeks important in determining whether Bitcoin settles or surrenders more.
