$BTC Bitcoin OG (10/11) Sends $8M ETH to Binance, Cuts Exposure 🐳
Moments ago, the Bitcoin OG (10/11) transferred 3,183 $ETH — roughly $8.04M — to Binance, hinting at possible continued distribution.
Derivatives data shows the OG has partially closed its ETH long, locking in a $14.08M loss after aggressively building leveraged positions during the drawdown.
Despite reducing risk, the wallet still holds a huge multi-asset portfolio across $ETH, $BTC, and $SOL , with an estimated floating loss near $135M.
This fresh Binance deposit increases the likelihood of additional ETH inflows to exchanges, raising short-term sell-pressure risk from this closely monitored OG wallet.
Is this measured de-risking… or the early stages of a broader unwind by one of the most aggressive OG traders of this cycle?
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