Hut 8 might be dumping.
The Bitcoin treasury co (10,278 $BTC / $845.6M stack) just moved 1,589 $BTC ($130M) to exchanges in 48hrs.
That's 15% of their holdings hitting CEXs. Not a good look when corps are supposed to be diamond hands.
Watch for price action if this continues. Treasury selloffs = narrative shift.
The Bitcoin treasury co (10,278 $BTC / $845.6M stack) just moved 1,589 $BTC ($130M) to exchanges in 48hrs.
That's 15% of their holdings hitting CEXs. Not a good look when corps are supposed to be diamond hands.
Watch for price action if this continues. Treasury selloffs = narrative shift.