CryptoQuant: Before Bitcoin's new high, miner-related addresses transferred 1000 BTC to CEX

According to on-chain data released by CryptoQuant, approximately $69 million worth of 1000 Bitcoins were transferred to CEX before Bitcoin hit a historical high and plummeted. These addresses have a history of over ten years, and the research company stated that these addresses are related to miners. "Considering that the exchange platform's order book shows liquidity of 5 to 10 Bitcoins for every $100 price change, selling 1000 Bitcoins could likely trigger a significant price drop," said Bradley Park, an analyst at CryptoQuant. "Especially when traders are waiting for the historic high price of short-selling Bitcoin, just like Tuesday.