They talk the talk about conviction, but on-chain they’ve already moved 4,259 $BTC to Crypto.com. Chinese-language accounts are calling it a sell-off, while English-language accounts say it’s a collateral wallet for debt coming due. A transfer ≠ a sale; don’t blame them for dumping before it’s confirmed.

Spot is hovering around $75,000, after dipping to about 74,811 intraday. The Fear and Greed Index plunged to 25—extreme fear. Funding rates are still around +0.01%, so longs keep paying their dues.

Strategy’s average cost is about 75,451, with spot prices clashing right at the breakeven line. Some are mocking its unrealized losses, while the biggest buyer is still calling for a Bitcoin bank.

A whale dormant for a year withdrew about 1,286 coins from Binance, and updates the same day showed purchases totaling about 3,009 coins. ETFs, meanwhile, are seeing outflows—who’s selling and who’s moving coins are each doing their own thing.

Wynn closed out the short and still says it was a great short—check the timer yourself. Funding rates don't lie: after that whole dump, the long pool is still paying the other side. I'll keep an eye on this tomorrow; drop a like so it's easier to keep track.