2026-01-05 03:28:01

Bitcoin prices hover around $90,000 with repeated fluctuations, but on-chain activity shows major movements.

Data tracking agencies have confirmed that leading mining company MARA transferred 288 Bitcoins to well-known market maker Wintermute nine hours ago, worth approximately $26.3 million. This transfer is not an isolated event—reviewing transaction records since 2025 reveals similar-sized BTC movements have occurred repeatedly.

However, there are two ways to interpret this. On one hand, as a major Bitcoin reserve holder, MARA regularly transfers funds to market makers as a routine operation to maintain market liquidity and trading depth. On the other hand, with Bitcoin at the sensitive $90,000 threshold, any large position change can easily trigger market nerves.

Investor sentiment is quite delicate—tracking these on-chain signals is important, but over-interpreting each transaction is not advisable. After all, the operational logic of mining companies is complex; transfers do not necessarily indicate bearish sentiment.

BTC-0,01%

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FOMOSapien

· 21h ago

It's that guy MARA again. He started transferring coins 9 hours ago, while we retail investors are still looking at the candlestick charts. 888 BTC, how much effort would it take to catch up? Every time, I guess whether they are going to dump or maintain liquidity. Might as well stop watching; anyway, I can't withstand the drop. When on-chain whales move, the underlying retail investors have to tremble. This game is really ruthless. The 90,000 level feels a bit risky, seems like waiting for the wind to come.

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GateUser-75ee51e7

· 01-05 18:09

MARA is dumping coins again, the pace is really fierce, but I think there's no need to panic every time. If they wanted to crash the market, they would have done it already, no need to wait for the 90,000 level.

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rugdoc.eth

· 01-05 03:57

I'm done, once again MARA outperforms BTC... This pattern feels a bit familiar The 90,000 level is really deadly; as soon as there's a slight movement, I start overthinking.

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GasFeePhobia

· 01-05 03:55

Starting to play on-chain detective again? Sending 288 BTC to market makers, I just want to know if MARA is really short on money or just testing the market reaction.

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nft_widow

· 01-05 03:54

MARA is selling coins again? Forget it, I'm used to transfers of 26.3 million dollars. The playbook of mining companies is too conventional. Don't worry too much; on-chain data can't reveal what's really in their minds. They threw 288 BTC at Wintermute. Instead of saying they're bearish, it's more about maintaining the order book. Same old story. 90,000 is 90,000. The market swings up and down, but the key is to see how the actual holdings of these miners change. It feels like investors are getting a bit neurotic due to these big players' on-chain operations... It's really just daily liquidity management.

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GateUser-beba108d

· 01-05 03:53

MARA's move is indeed a bit tense; transferring 288 BTC on command, no clues can be seen.

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FlashLoanPhantom

· 01-05 03:53

MARA has started transferring again, each time checking if it's to dump the market.

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StablecoinArbitrageur

· 01-05 03:52

actually, 288 BTC to wintermute? classic liquidity provision move but the timing screams desperation when we're stuck at 9k resistance. correlation with spot premiums must be running negative rn

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