It’s an interesting question, not just 50% cashouts either. Addresses were completely drained
Discussion
Exactly, that is what puzzles me
These are just guesses but my leading thoughts are
1. They used the sales to fund shitcoin treasury companies. The use of galaxy digital and timing of the ether pump lined up well
2. They’re also gold bugs and btc was ready to break out against a 7 year ratio with the gold price
Could be totally off but the timing/exchange is all I have to go off.
It makes sense how you put it.
It just made me think if those wallets were drained.
My thought was maybe holders finding old wallets intentionally and trying to cash out but if the timing isn't random..
To be clear, I have no special insight into these people. It doesn’t seem random to me though. Also the method that they chose … was the one that most directly impacts price. Compared to big companies etc that twap in and do their best to not move price (so you can buy the most without paying higher or sell the most without moving lower)
