selling

According to Arkham monitoring, the German government has previously sold a total of 49,858 bitcoins, with an average selling price of approximately $57,900.If bitcoin drops about 6% from the current level, the price will fall near the German government's average selling price, which means that bitcoin is gradually approaching the cost range during large-scale sell-offs by sovereign institutions. Therefore, in the context of significant liquidation pressure facing the market this week, the area around $57,900 is worth paying close attention to. Since government sales typically exhibit characteristics such as non-voluntary nature and insensitivity to price, this price level may become an important reference range for the market to assess supply and demand relationships and subsequent trends.

According to CoinDesk, despite market speculation that some retail investors may sell Bitcoin to participate in SpaceX's record-breaking $75 billion IPO, stablecoin liquidity and on-chain data show that there are currently no signs of large-scale capital withdrawal from the crypto market.This SpaceX IPO is valued at approximately $1.8 trillion, allocating up to 30% of shares to retail investors through platforms such as Robinhood, Fidelity, and Charles Schwab, significantly higher than the traditional IPO's allocation of about 10% to individual investors. After the roadshow began, subscription demand has exceeded the issuance scale.Data shows that the outflow of USDT and USDC remains within the normal range since February this year, with no abnormal redemptions or supply contractions. In contrast, on June 6, Bitcoin and Ethereum recorded net outflows of approximately 66,470 BTC and 2.49 million ETH from exchanges, indicating that more investors are transferring assets to private wallets, showing signs of buying the dip rather than concentrated cashing out.However, on-chain data cannot reflect the trading behavior of users on platforms like Robinhood and Coinbase, so whether crypto investors are selling assets to subscribe to SpaceX stock still requires waiting for relevant brokers to release subsequent data.Currently, the most significant capital outflows are coming from spot ETFs. Data shows that as of June 3, U.S. spot Bitcoin ETFs have experienced net outflows for 13 consecutive trading days, with total redemptions of approximately $4.4 billion; spot Ethereum ETFs have seen capital outflows for 17 consecutive trading days before returning to slight net inflows.According to the plan, SpaceX will complete pricing on June 11 and will be listed on Nasdaq under the stock code SPCX on June 12.

Jiang Zhuoer, the founder of the Liebit Mining Pool (B.TOP), stated that he has repurchased all previously sold Ethereum positions at an average price of $1,645, after clearing positions in the range of $2,200 to $2,400. Although the repurchase operation has been completed, he believes that the overall market is still in a downtrend, but Bitcoin has received support twice around $61,000 and has not effectively broken down, indicating a short-term technical rebound demand.Based on this judgment, Jiang Zhuoer expects Bitcoin to experience a rebound in the next 1 to 3 days and plans to sell the recently repurchased Ethereum positions again during the rebound process.

According to Coinglass data, since May 19, the negative premium trend of Bitcoin on Coinbase has expanded, currently reported at -0.1931%, and it has been in negative premium for 17 consecutive days, indicating that the demand for BTC in the U.S. market has not yet significantly recovered, and investor risk appetite has declined.During the same period, Bitcoin has fallen from $77,000 to the current $62,000, with this round of correction possibly led by U.S. investors. The Coinbase Bitcoin premium index is used to measure the difference between the Bitcoin price on Coinbase and the global market average price; a negative premium typically reflects significant selling pressure in the U.S. market, a decline in investor risk appetite, increased market risk aversion, or capital outflows.

The wallet of FG Nexus, a Nasdaq-listed company marked by Arkham (0x4a2...b82), transferred 10,000 Ethereum on Wednesday, worth approximately $17.8 million. FG Nexus accumulated 50,770 Ethereum at an average price of $3,860 between August and September 2025, when the position was valued at about $196 million. As the price of Ethereum dropped to around $1,765, its original investment has realized and unrealized losses exceeding $100 million. As of Thursday pre-market, FG Nexus's stock price fell 13.4% to $7.11.

According to Yu Jin Detection, looking back, after Strategy's previous test sale of 32 bitcoins (approximately $2.47 million), market sentiment quickly deteriorated. In the following three days, the price of bitcoin fell by approximately $11,400, a decline of 15.6%, with a total market value evaporating by about $228 billion.In terms of funds, bitcoin spot ETFs experienced a cumulative net outflow of $1.45 billion within three trading days following Strategy's announcement of the sale, recording continuous outflows for 13 trading days, with a total scale reaching $4.37 billion. Meanwhile, several on-chain and institutional movements further intensified market concerns. Mt. Gox transferred some bitcoins to the Bitstamp trading platform; bitcoins from Tether's reserves were transferred to the Bitfinex trading platform for the first time; and the crypto asset management firm Abraxas Capital also began to reduce its bitcoin holdings.Market analysis suggests that although Strategy's sale was limited in scale, as one of the largest corporate bitcoin holders globally, its selling behavior had an amplifying effect on market sentiment, triggering a chain reaction of institutional fund outflows and multiple parties reducing their positions.

According to CoinDesk, Citi analyst Alex Saunders stated in a recent report that the recent sale of Bitcoin by Strategy has caused market volatility, but the bigger issue is the lack of demand from new investors.The report pointed out that this sale by Strategy is part of a previously disclosed tax optimization plan and not a strategic shift. What is truly concerning is that the spot Bitcoin ETF has seen net outflows for 11 consecutive days, which is an important signal of weak investor adoption. Analysts estimate that ETF fund flows can explain about 45% of Bitcoin's weekly price fluctuations.In addition, the likelihood of the U.S. crypto market structure bill passing this year is decreasing, reducing potential positive catalysts. The bank believes that in the absence of regulatory progress and new capital inflows, Bitcoin market sentiment will remain subdued.

According to QCP Capital's latest market report, Bitcoin has fallen approximately 11.6% this week, continuing to be under pressure. Market sentiment has been affected by the rare news of Strategy selling 32 BTC, although the sale size was only about $2.5 million, which had almost no substantial impact on its holdings of over 840,000 coins. However, it broke the long-standing market expectation of Strategy's "never selling coins," weakening the confidence of some investors.On a macro level, the situation is also unfavorable. The escalation of the Middle East situation and the stagnation of US-Iran negotiations have driven oil prices up, with the risk premium in the Strait of Hormuz being re-emphasized. Meanwhile, US job vacancy data was stronger than expected, reducing the market's bets on a short-term rate cut by the Federal Reserve and reinforcing the expectation of "higher rates for longer." The options market shows a significant increase in defensive sentiment. The 30-day at-the-money implied volatility (ATM IV) rose to about 41.4%, with a weekly increase of about 7 volatility points. The risk reversal indicator remains biased negative, with a short-term inverted yield curve reflecting strong demand for downside protection in the market.QCP believes that the current market is not in a panic sell-off but is re-pricing downside risks. Weak spot demand, rising oil prices, increasing real interest rates, and macro uncertainty are collectively suppressing the performance of risk assets. Meanwhile, AI concept stocks and large tech companies continue to attract significant capital inflows, further diverting risk appetite from the crypto market. QCP points out that if BTC cannot regain a foothold in the $67,000 to $68,000 range, the rebound may still face significant selling pressure. The current market is more inclined to purchase downside protection rather than actively increase risk exposure, as investors await a clearer direction from the macro environment between the paths of "soft landing" and "high inflation, high interest rates, low liquidity."

According to analyst Yu Jin's monitoring, the crypto asset management firm Abraxas Capital allegedly sold 1,000 BTC during last night's decline, worth $67.49 million. Seven hours ago, it transferred 1,000 BTC to Kraken and subsequently withdrew a total of 52.72 million stablecoins from Kraken, including USDC and USDT.

According to on-chain analyst Ai Yi's monitoring, the Fenbushi Capital associated address (0xaF3...74446) transferred 11,101 ETH to the Amber Group recharge address 8 hours ago, valued at 21.94 million USD, with a transfer price of 1,977.24 USD.Tracing back shows that the address withdrew a total of 33,398 ETH from Binance between February 2024 and April 2024 at an average price of 3,039.36 USD, with a total value of approximately 101 million USD; based on the current transfer price, if the aforementioned 11,101 ETH were sold, it would incur a loss of 11.79 million USD.

On-chain data shows that Strategy has transferred back 411 BTC previously moved to Coinbase Prime to its own address, and market speculation about its sale of Bitcoin has cooled down.

According to Onchain Lens monitoring, a whale holding the $HYPE genesis token has begun to profit, estimated to have made over $94,000,000 from $HYPE. They received 819,335 $HYPE from the HyperLiquid genesis token allocation, then purchased 676,798 $HYPE at an average price of $4.29, spending $2,900,000. Eight hours ago, they withdrew 500,000 $HYPE (worth $33,000,000) from the Hyperliquid platform and deposited 211,001 $HYPE (worth $13,820,000) to Coinbase, currently still holding 1,284,955 $HYPE, worth $82,620,000.

The probability of selling Bitcoin on Polymarket's Strategy has surged this week, rising from a low of 11% today to 30%. This morning, Strategy deposited 411.48 BTC into Coinbase, worth $30,300,000.

Strategy CEO Phong Le stated in an interview with Fox Business that the company purchased $1.6 billion in Bitcoin during the second week of May, which is more than the total holdings of most Bitcoin treasury companies in a week.Phong Le mentioned that the current Bitcoin price is attractive, and the company will continue to buy Bitcoin. Although there may be short-term sales of some Bitcoin due to reasons such as utilizing unrealized tax losses, the long-term strategy is to continuously net increase Bitcoin holdings and focus on enhancing the number of Bitcoin per share.He views Bitcoin as "digital capital," believing it is superior to traditional stocks, bonds, and gold, and emphasized that the company will pass Bitcoin earnings to shareholders, similar to the operating model of Real Estate Investment Trusts (REITs).

Lookonchain posted on platform X that Michael Saylor's Strategy has just deposited 411.48 BTC into Coinbase Prime, worth 30.3 million dollars; on Polymarket, the probability of MicroStrategy selling BTC before December 31, 2026, has now reached 84%.

Glassnode disclosed the latest on-chain data showing that the Bitcoin spot trading volume difference (7-day moving average) has re-entered a sustained negative range. As the Bitcoin price fell back to around $73,000, the market experienced significant selling pressure accelerating, with sellers continuing to dominate the spot market, and the pressure of chip distribution is gradually accumulating.Recently, during the process of Bitcoin falling back from above $80,000 to around $75,000, spot demand, ETF fund inflows, and volatility expectations have all continued to weaken. Although market positions have been somewhat reset, investor confidence remains limited, presenting an overall cautious wait-and-see attitude.

Cryptocurrency analyst Axel Adler Jr. stated that the inflow of BTC to trading platforms and the outflow of stablecoins from trading platforms simultaneously release a "risk aversion" signal, indicating that selling pressure in the market is increasing. Data shows that the net inflow of BTC to trading platforms over the past 30 days has shifted from an extreme net outflow of 300,000 BTC at the end of March to an inflow of 103,000 BTC, meaning more BTC is being reintroduced to trading platforms in preparation for sale. During the same period, the price of BTC dropped from $80,000 to $73,700.Meanwhile, stablecoins are flowing out of centralized trading platforms at a record pace. The average net flow of stablecoins over the past 30 days has shifted from an inflow of $164 million per day at the end of April to an outflow of $153 million per day. This indicates that the liquidity available for purchasing BTC in the market is decreasing. Axel Adler Jr. pointed out that when BTC flows into exchanges while stablecoins simultaneously flow out of trading platforms, it creates an unfavorable structure of "increased supply and decreased demand," which is a typical risk aversion market condition.He believes that if the net inflow of BTC continues to exceed +100,000 BTC, the market may face a deeper correction; while stable signals would include BTC turning back to a net outflow or stablecoins flowing back into trading platforms.

According to Onchain Lens monitoring, a certain whale sold 123,100 HYPE at a price of $61, exchanging it for 7.5 million USDC, making a profit of $2.5 million after holding for over 1.5 months. The whale purchased this batch of HYPE when it was worth $5 million.

According to the on-chain analysis platform Bubblemaps, the same address cluster it marked has sold approximately $600,000 worth of CWU tokens, but the related addresses still hold about 85% of the CWU supply. The token previously attracted attention due to support from the former president of Ghana.