A recent on-chain movement has drawn sharp attention from crypto analysts. A previously inactive wallet (0x8C0...0F364) purchased 264.86 WBTC at an average price of $113,012.84, amounting to nearly $30 million in total exposure.
Exiting Position After Three-Month Hold
After holding the assets for precisely three months, the wallet transferred all WBTC holdings to a major exchange just hours ago. The current market value at the time of transfer stood at approximately $93,823 per coin — significantly below acquisition cost.
- Purchase average: $113,012.84
- Exit valuation: $93,823
- Estimated loss: $5.08 million
While it's not yet confirmed if the entire position was fully sold, the on-chain flow strongly suggests a strategic exit. Analysts speculate this could signal bearish sentiment or urgent liquidity needs.
Market Sentiment and Ripple Effects
Large-scale loss-realizing moves like this often influence trader psychology. Some believe this reflects portfolio rebalancing rather than panic. Still, such actions can contribute to downward pressure during volatile market phases.