#比特币巨鲸动向 1. Market Impact Characteristics

• A single whale trade can reach up to $300,000 (such as large swaps on the Ethereum chain)

• A short-term sell-off of 20,000 coins can trigger a 2% price fluctuation, need to be wary of large holders' movements

1. Key Observation Points

• The number of addresses holding over 10,000 BTC continues to decrease

• Net outflow from exchanges has reached 9,000 coins (Binance 24-hour data)

• Before the ETF rollout, whales are adjusting their BTC wrapped token holdings