BTC Whales Transfer $170M, Realize Over $42M in Losses Amid Bearish Market

The BTC market experienced a period of significant whale activity, characterized by both profit-taking and substantial loss-cutting, amidst fluctuating price action and notable shifts in derivatives market sentiment. Large transfers of BTC to exchanges and institutional custody solutions suggest a prevailing intent to liquidate or re-allocate holdings. This on-chain behavior coincided with a general downward trend in BTC 's price, negative funding rates on some exchanges, and a decrease in open interest, indicating a bearish sentiment in the short-term futures market. Options market data also reflected increased volatility expectations, particularly for shorter-dated expiries.