A recent transfer of 33.7 Bitcoin, valued at approximately $3 million, from wallets linked to the defunct Silk Road marketplace has sparked concerns in the cryptocurrency market. These wallets had been dormant for nearly five years before the transaction was made to Coinbase Prime, as detected by on-chain analysis tools.
Despite the limited liquidity impact, analysts suggest that the psychological effect of such movements could influence Bitcoin's market sentiment. Currently, over 416 BTC from these wallets remain inactive, while Bitcoin continues to trade within a narrow range.
Silk Road-Linked Bitcoin Transfer Raises Market Concerns
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