Super whale group reappears with massive turnover on the chain! On December 8th, the whale group holding more than 10000 BTC - also one of the main groups of BTC in this cycle - suddenly experienced a huge turnover of 11.70000 BTC. I checked the BTC balance on the exchange during the same period and found no significant increase, indicating that this transaction was only completed on the chain. (Figure 1) Of course, it is also possible that there is an internal transfer of institutions, but the greater probability is that it is an economic behavior (such as OTC). Fortunately, it has not had a serious impact on the secondary market price, indicating that it can be gradually digested by the demand side outside the market. Coincidentally, before the closing of the Japanese yen carry trade on August 5th, 2024, specifically during the period of July to August, this group also incurred intensive spending. This inevitably reminds people of the potential factor that the Bank of Japan is about to raise interest rates again on the 18th of this month. But I think there's no need to worry too much, after all, this is just the first time it has appeared recently. Moreover, compared to 2024, there is a very important difference currently: (Figure 2) The whale group holding 10k-100k BTC in July and August of 2024 showed a downward trend in overall holdings, indicating that they are distributing their chips to other smaller groups. And now their overall holdings are gradually increasing, indicating that they are generally recovering chips. Only some investors choose to take hedging actions in advance when liquidity is sensitive, taking into account the unknown impact of events. ---------------------------------------------- This article is sponsored by @ Bitget | Bitget VIP， Lower rates and more generous benefits