Alex Krüger|Nov 21, 2025 07:07
This could be a seller (or series of sellers) simply dumping during US hours via a broker or OTC desk that employs smart order routing or hedging strategies across multiple venues based on liquidity, with most volume naturally flowing to Binance since it's where the bulk of the liquidity resides.
The only notable patterns on the dumping front have been relatively little spot selling routed via Coinbase this week, and extraordinary levels of spot selling via Bitfinex.(Alex Krüger)
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