Are miners starting to move coins to exchanges? Meow Bro spotted Hut 8 👀
🔍 Lookonchain monitoring: Wallets linked to Hut 8 deposited 1,589 $BTC (about $130 million) to several exchanges over two days, possibly to sell.
👉 You can see the order-splitting route in the image: Binance, Bybit, OKX, Kraken, Gate, Bitstamp, and LMAX are all involved. Individual transfers ranged from 20 to 200 BTC—a classic way to distribute sales without crashing the market, selling gradually instead.
📊 Hut 8 still holds 10,278 BTC (about $846 million), so the amount moved this time equals roughly 15% of its current holdings.
Add two more data points:
• U.S. spot BTC ETFs saw about $540 million in cumulative net outflows from 10/1 to 10/14
• Binance BTC perpetual funding briefly turned negative (-0.0073%), with bears in the lead
Meow Bro's take: When miners or listed companies sell coins, it's often a cash-flow decision—not necessarily a bearish signal. But with “ETF outflows + miner deposits” happening at the same time, short-term buying pressure does look thin. Keep an eye on two things: ① whether there are more large deposits ② whether ETFs return to sustained net inflows. Key levels: $80,000 / $77,000 below (the new whale cost basis), and $88,000 above. The Fear & Greed Index is currently at 55, indicating neutral-to-greedy sentiment.
Do you think this is normal selling, or are miners hedging early? Share your thoughts in the comments 👇
#链上数据 #巨鲸动向 #BTC
$BTC $ETH
This is only a personal opinion and does not constitute investment advice
🔍 Lookonchain monitoring: Wallets linked to Hut 8 deposited 1,589 $BTC (about $130 million) to several exchanges over two days, possibly to sell.
👉 You can see the order-splitting route in the image: Binance, Bybit, OKX, Kraken, Gate, Bitstamp, and LMAX are all involved. Individual transfers ranged from 20 to 200 BTC—a classic way to distribute sales without crashing the market, selling gradually instead.
📊 Hut 8 still holds 10,278 BTC (about $846 million), so the amount moved this time equals roughly 15% of its current holdings.
Add two more data points:
• U.S. spot BTC ETFs saw about $540 million in cumulative net outflows from 10/1 to 10/14
• Binance BTC perpetual funding briefly turned negative (-0.0073%), with bears in the lead
Meow Bro's take: When miners or listed companies sell coins, it's often a cash-flow decision—not necessarily a bearish signal. But with “ETF outflows + miner deposits” happening at the same time, short-term buying pressure does look thin. Keep an eye on two things: ① whether there are more large deposits ② whether ETFs return to sustained net inflows. Key levels: $80,000 / $77,000 below (the new whale cost basis), and $88,000 above. The Fear & Greed Index is currently at 55, indicating neutral-to-greedy sentiment.
Do you think this is normal selling, or are miners hedging early? Share your thoughts in the comments 👇
#链上数据 #巨鲸动向 #BTC
$BTC $ETH
This is only a personal opinion and does not constitute investment advice