$BTC and OG (10/11) Sends $8M to Binance, Cuts Losses 🐳
Just minutes ago, the Bitcoin OG (10/11) deposited 3,183 — worth approximately $8.04M — into Binance, signaling potential further distribution ahead.
On derivatives data, the OG has closed part of its $ETH long position, realizing a loss of $14.08M, after previously scaling aggressively into leverage during the drawdown.
Despite trimming exposure, the wallet still holds a massive portfolio across assets, including $ETH
, and , and is currently sitting on a floating loss of around $135M.
The fresh Binance deposit strongly suggests more ETH may be sent to exchanges, increasing short-term sell pressure risk from this closely watched OG wallet.
Is this controlled de-risking… or the start of a larger unwind from one of the most aggressive OG traders this cycle?
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