On April 23, #XRPETF 4, over $600 million worth of BTC was transferred from a whale wallet to an exchange, setting a record for the highest single-day inflow of BTC in weeks. Prior to this, the BTC/GBP currency pair experienced a breakout, triggering a large-scale short covering. The large transfer of BTC may reflect a situation where, if selling pressure intensifies, later long positions could face downside risks.