Mixed signals from on-chain flows today.
Per Whale Alert, three unknown wallets moved 3,225 $BTC (about $239M) onto exchanges within roughly 40 minutes this afternoon, 2,392 BTC of it to Binance. Coins heading to exchanges usually means someone is getting ready to sell or hedge.
Spot Bitcoin ETFs keep bleeding too. Per Lookonchain, they saw a net 1,649 BTC out on the day and about $1.15B out over 7 days, while ETH ETFs lost roughly $263M in a week.
The other side: 250M $USDC was just minted at the USDC Treasury, and fresh stablecoins often end up as buying power.
My take: sellers still have the edge while BTC sits near 73.9K under the post-CPI cloud. I'd want ETF flows to turn green before trusting a bounce. If the 72.7K low breaks on a daily close, those deposits were the early warning.
#Bitcoin #OnChain #WhaleAlert #ETFflows
Not financial advice.
Per Whale Alert, three unknown wallets moved 3,225 $BTC (about $239M) onto exchanges within roughly 40 minutes this afternoon, 2,392 BTC of it to Binance. Coins heading to exchanges usually means someone is getting ready to sell or hedge.
Spot Bitcoin ETFs keep bleeding too. Per Lookonchain, they saw a net 1,649 BTC out on the day and about $1.15B out over 7 days, while ETH ETFs lost roughly $263M in a week.
The other side: 250M $USDC was just minted at the USDC Treasury, and fresh stablecoins often end up as buying power.
My take: sellers still have the edge while BTC sits near 73.9K under the post-CPI cloud. I'd want ETF flows to turn green before trusting a bounce. If the 72.7K low breaks on a daily close, those deposits were the early warning.
#Bitcoin #OnChain #WhaleAlert #ETFflows
Not financial advice.
