⚠️ Named fund Abraxas Capital dumped 1,000 BTC (~$67.5M) on Kraken during last night's 6% sell-off, then withdrew $52.7M in stablecoins (USDC + USDT). 𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: A $67M institutional sell order hitting an already-weak order book is meaningful downside pressure. The stablecoin withdrawal signals de-risking, not rotation — Abraxas is sitting in cash, not repositioning into alts. This confirms the sell-off wasn't purely retail panic; a named fund was actively distributing. Watch whether they re-enter on any bounce; if they stay sidelined, it removes a layer of structural bid. On-chain: https://intel.arkm.com/explorer/entity/abraxas-capital-heka-funds --source: https://x.com/EmberCN/status/2061968976226504734 Track real-time signals & trade → https://hupzy.com/trending(Hupzy (Spot On Chain))