#BTC Giant Whale Cashes Out Large Amounts of BTC

An address that has held for over 14 years broke its silence today, transferring 9,000 BTC (approximately $1.06 billion) to Galaxy Digital, suspected of engaging in OTC trading.

The cost basis of this address is as low as $0.78, and the arbitrage potential per BTC is enormous, which may trigger selling pressure in the market. Moreover, part of this batch of BTC has currently been injected into exchanges (with 260 BTC already entering CEX), suggesting that subsequent selling pressure may further drag down BTC prices.

Market panic is intensifying, as data shows that Bitcoin fell below $118,000 and $117,500 psychological thresholds in less than a minute, indicating strong selling sentiment in the short term.

Technical statistics reflect market trends, with candlestick charts showing typical bearish patterns appearing continuously in the morning.

Trading volume surged by 232.86%, but prices continued to decline, signaling panic selling; the sudden offloading of large amounts of BTC undoubtedly exacerbated this trend.