During the decline in Bitcoin (BTC) and cryptocurrencies, the transfers made by giant market makers to stock exchanges did not go unnoticed.
First Bitcoin The cryptocurrency market in general, including the cryptocurrency market, experienced a significant decline on September 11. Bitcoin during the day 25,800 from dollar levels $24,900 to levels 4%Leading market makers fell close to Jump Trading, Wintermute And Abraxas Capital to stock exchanges millions of dollars worth of cryptocurrencies sent.
Offered by on-chain analysis firm Arkham Intelligence to data by asset manager Abraxas Capital to cryptocurrency exchange Bitfinex in two transactions $22.5 million worth 14,130 Ethereum (ETH) transferred. Following this transaction, another market maker Jump Tradingto Binance with a single transaction $5.9 million worth about 236 Bitcoins (BTC) sent.
A similar process wintermute It came from the front. On-chain analysis platform to Lookonchain According to Wintermute, in parallel with the decline in the cryptocurrency market, approximately $3.3 million worth 4.35 million Arbitrum (ARB) deposited.
After these huge transfers EST night on Bitcoin occurred during the hours sharp rise It aroused curiosity.
It is thought that transfers from market makers are made to maintain the price. On the other hand, market makers who want to avoid possible further declines to sell their assets It is also estimated that he transferred it to the stock markets.