ICYMI: here's why this dormant wallet moved a massive amount of 1,100 $BTC Bitcoin BTC
The large transaction reflection was also noticed on the Spent Output Age Bands that reflect the age of coins spent on-chain.
According to on-chain data, the coins were not sent to an exchange address, so no selling pressure was provided by the miner, which explains the lack of volatility on theOn-chain analysts expect almost half of these funds to move to a custodial service as one of the addresses that received BTC can be used by multiple digital signatures, which is a function we usually see on wallets related to custodial services.
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