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Arkham analyst: Approximately 3,720 BTC transfer may be related to Strategy

WuSaidBlockchainW
According to Arkham analyst Emmett Gallic's post on X, after further analysis, he believes that the recent movement of approximately 3,720 BTC from Anchorage Digital's custody cold address to an internal Anchorage Digital address is more likely related to Strategy. He stated that the relevant addresses were primarily funded between July 2025 and January 2026; approximately 1,700 BTC remain in the internal Anchorage address, while the rest have been transferred to external counterparties such as Galaxy and Coinbase Deposits over the past 3 to 4 days. Emmett noted that Anchorage does not have many known large clients, and Strategy is one of the largest, but this judgment is still based on on-chain fund flow analysis and has not been officially confirmed by Strategy or Anchorage.
BTC1.08%
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DuskStop-LossLine
· 9h ago
Emmett's conclusion is quite solid; he doesn't speculate without evidence, better than those who just make up stories based on charts.
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FeeTaker
· 12h ago
Anchorage handles its own cold wallets, just standard routine operations—standard risk control for institutional custody.
View OriginalReply0
Half-SectionSucculent
· 12h ago
A shift from cold to hot is perfectly normal; the key is where it ultimately goes. It's too early to talk about ETFs now.
View OriginalReply0
AirdropOnTheDune
· 12h ago
3,720 BTC is a significant move, but internal transfers don't explain much. Wait to see the subsequent flow.
View OriginalReply0
PocketValidator
· 12h ago
Arkham’s analysis is a bit conservative. As a custodian, Anchorage’s internal address transfers are most likely due to client redemptions or rebalancing.
View OriginalReply0

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