According to the latest data from on-chain analysis platform Arkham Intelligence, a well-known early Bitcoin investor (Bitcoin OG), with address labeled as “1011short,” deposited 5,152 BTC into a mainstream CEX on Thursday, valued at approximately $445 million based on current prices. This large transfer quickly drew significant market attention regarding potential selling pressure and market direction.
Data shows that the trader was still increasing their Ethereum long positions earlier on the same day. Before the US stock market opened, their on-chain holdings included about 203,341 ETH, 1,000 BTC, and 250,000 SOL, with the total crypto asset position value approaching $695 million, indicating strong financial capacity and market influence.
Looking back at the market, in November, amid cooling US inflation data, the crypto market experienced a rapid rebound, with Bitcoin price briefly surpassing $89,000, Ethereum approaching $3,000, and mainstream coins generally strengthening. However, market sentiment then shifted to caution, and the rally did not continue.
At the time of writing, market data shows Bitcoin has fallen back to around $85,166. Over the past 10 hours, the cryptocurrency market experienced significant selling, with the total market cap evaporating over $10 billion and falling below the $3 trillion mark. Analysts point out that the transfer of assets from Bitcoin OGs to exchanges is often seen as an important short-term risk indicator, and subsequent fund movements remain worth monitoring.
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