Two wallets that have been dormant for a year suddenly deposited 1,650 BTC, worth $127 million, into FalconX.

This is not an ordinary transfer. FalconX is an institutional trading platform, and the movement of these old chips at this time and through this channel likely indicates an intent to cash out.
In the past week, net inflows into centralized exchanges have exceeded 18k BTC, and with this transaction today, the on-chain supply structure is undergoing subtle changes.
Old holders are starting to loosen their grip, and market absorption—consider the ETF outflows of $2.26 billion over two weeks—is not optimistic.
Of course, a single address cannot represent a trend. But combined with recent whale sell-offs of ETH and the divergence in institutional capital flows, on-chain supply is under increasing pressure.
The risk is: if more long-term holders choose to sell between $75k and $80k, Bitcoin’s rebound potential will be structurally suppressed.
$btc #eth #ETF #链上数据 #Blockchain