$BTC The market is up slightly today.
But on-chain, there’s no reason to be optimistic yet.
Lookonchain / Onchain Lens monitoring: the top market maker Wintermute, over the past 18 hours, executed 8 transfers into Binance totaling 1,279.99 BTC, about $98.68 million.
Latest transfer: 90.1 BTC (about $6.97 million).
The key point isn’t this one—it's the frequency:
This week alone, about 3,834 BTC (about $257 million) has already been deposited into Binance.
They’re continuously moving it into the tradable area, not doing occasional rebalancing.
Even more aggressive is the other line:
Wintermute increased its short positions on Hyperliquid from $146 million to $191 million, and continues adding even while sitting on an unrealized loss of about $5.85 million.
Spot: sending coins to exchanges.
Futures: adding shorts on Hyperliquid.
Do you believe in today’s rebound, or in Wintermute’s moves?
But on-chain, there’s no reason to be optimistic yet.
Lookonchain / Onchain Lens monitoring: the top market maker Wintermute, over the past 18 hours, executed 8 transfers into Binance totaling 1,279.99 BTC, about $98.68 million.
Latest transfer: 90.1 BTC (about $6.97 million).
The key point isn’t this one—it's the frequency:
This week alone, about 3,834 BTC (about $257 million) has already been deposited into Binance.
They’re continuously moving it into the tradable area, not doing occasional rebalancing.
Even more aggressive is the other line:
Wintermute increased its short positions on Hyperliquid from $146 million to $191 million, and continues adding even while sitting on an unrealized loss of about $5.85 million.
Spot: sending coins to exchanges.
Futures: adding shorts on Hyperliquid.
Do you believe in today’s rebound, or in Wintermute’s moves?
