On the progress of the FTX liquidation team’s remaining $744 million:

The biggest reason since BTC surged. This wave of explosions, since I first saw the main behavioral information discovered through numbers, all the data that I have found so far are basically the same as those suspected in the previous article about Three Arrows Capital and its related institutions or creditors. There is a very big relationship.

Brief information is provided below:

As mentioned in the above picture, the main message I see is that there are institutions trying to sell.
Three Arrows Capital initially borrowed a total of US$3.5 billion from 27 companies, including FTX, which was one of Three Arrows Capital's creditors and an important trading partner.

When Sanjian Capital suffered huge losses due to the reduction in the premium rate of GBTC, FTX was also affected, unable to collect debts, and faced a crisis of trust in the market. The collapse of FTX further exacerbated the panic in the crypto market, causing the prices of LUNA and UST to plummet, triggering the death spiral of Three Arrows Capital.

After review by the bankruptcy court starting on September 14, Three Arrows Capital’s creditor FTX liquidation team was determined to sell off US$3.25 billion (market value at the time) of cryptocurrencies in hand, including BTC, ETH, SOL, etc.

The FTX liquidation team also said that in order to avoid volatility and downside risks, they will carry out some hedging techniques and transfer some on October 9, 10, 11, 12, 13, 14, 15, 16 and other days. Cryptocurrencies such as SOL, LINK, and TRU.

On September 13, they began to transfer more than 100 million BTC every day, and after they carried out hedging techniques, as shown in the figure, the market price began to increase sharply on October 16, and continued to rise until the liquidation team held on. The last recorded BTC transfer date ended on October 26th.

At this time, the price of BTC began to take over due to the market's bull market belief sentiment, leading to subsequent upward consolidation.

Because the market didn't know the real reason for the rise, it all pushed the BlackRock spot ETF to tie up the market's bull market belief sentiment. However, little did they know that the news about BlackRock was all old. On November 9th, the same bullish speculation tactics continued to tie up investors’ belief in the bull market. However, the market has no idea that this is a hype created by the liquidation team and has nothing to do with ETFs.

Now, after the FTX liquidation team moved to October 26th as the last transfer record. From the records, it can be found that the liquidation team still has an equivalent value of approximately 7.$4.7 billion in cryptocurrencies have yet to move on from the sell-off.