According to Arkham Intelligence, large entities aggressively moved Bitcoin onto exchanges in the hours surrounding the crash. Kraken alone dumped about 17,030 BTC into the market, Binance followed with about 12,147 BTC, and Coinbase added another 9,093 BTC. Wintermute, a major market maker, dumped 3,491 BTC, while wallets labeled as Trump Insider and Bybit dumped 2,543 BTC and 2,471 BTC, respectively.
As one of the largest corporate holders of Bitcoin, Strategy has felt the impact of the recent crash more directly than most, leaving its Bitcoin position hovering just above loss territory.
Featured image from Unsplash, chart from TradingView
