Analysts tracking blockchain data interpreted the wallet activity of Jeffrey Wilcke, one of the co-founders of Ethereum, as an important signal of a potential sell-off. Blockchain data shows that Wilcke transferred approximately 79,258.61 $ETH, which is worth around $157 million at current market prices.
On March 4, an unknown participant withdrew 31,900 $BTC (~$3 billion) from a centralized exchange (CEX). This was noted by Axel Adler Jr. from CryptoQuant.
According to the latest blockchain data published by crypto analytics platform Arkham, a crypto address allegedly linked to major Chinese crypto magnate Garret Jin transferred $760 million worth of Bitcoin to Binance.
The fund with the largest capital outflow was IBIT from BlackRock — nearly $193 million was withdrawn from it. It was followed by Fidelity’s FBTC, which saw an outflow of $74 million. Grayscale’s GBTC fund recorded moderate losses, analysts noted.
The Bitcoin market has encountered a sharp increase in pressure from miners, as net flows from Binance Pool have moved into a deep negative zone. Data shows that BTC miners are transferring significant volumes of coins to exchanges, which usually indicates preparation for sales or active profit-taking. At the same time, the price of Bitcoin fell from $120,000 to $81,000, and aggressive outflows from miners have noticeably increased supply on trading platforms. Such behavior indicates growing stress among industry participants.
The bankrupt Japanese cryptocurrency exchange Mt. Gox has executed its largest Bitcoin transfer in eight months, despite postponing creditor repayments until the end of 2026.
Bitcoin and Ethereum ETFs have posted negative flows for the second consecutive day amid renewed market weakness. BTC is currently trading around $110,000, while ETH has dropped below $4,000.
A major Bitcoin whale has sold 80,000 BTC through Galaxy Digital in one of the largest transactions in crypto history. The company confirmed the sale but did not disclose the exact date or execution price.
The UK Home Office plans to sell Bitcoin worth a massive $7.2 billion to help plug the budget deficit.
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