**News Flash: Dormant Bitcoin Moves Shake Crypto Market**

A recent $1.7 billion shift of long-dormant Bitcoin has stirred the crypto market. Between Aug. 11 and Aug. 12, 29,206 BTC, inactive for up to three years, were transferred, according to CryptoQuant analyst XBTManager. This movement has created noticeable selling pressure.

Key Points:

- 18,536 BTC inactive for 2-3 years moved on Aug. 11.

- Additional 5,684 BTC inactive for 3-6 months shifted later.

- On Aug. 12, 4,986 BTC inactive for 3-12 months and 2,394 BTC dormant for 3-5 years were transferred.

Despite this, IG markets analyst Tony Sycamore remains optimistic, citing improved risk sentiment and lower US yields. Sycamore predicts Bitcoin could rise towards $70,000.

Glassnode analysts noted market uncertainty but highlighted a growing trend of HODLing and accumulation among large wallets, suggesting strong conviction among Bitcoin holders.