TechFlow reports that, according to on-chain analyst EmberCN (@EmberCN), Abraxas Capital, a crypto asset management firm, sold a total of 2,469 BTC (approximately $166 million) over the past day and a half at an average price of $67,210 per BTC. All transactions involved transferring BTC to Kraken and then withdrawing stablecoins. The most recent transaction involved transferring 1,469 BTC (approximately $98.45 million) to Kraken and withdrawing $22.71 million in USDC. Earlier, during last night’s market downturn, the firm sold 1,000 BTC (approximately $67.49 million) and subsequently withdrew approximately $52.72 million in stablecoins (USDC + USDT).
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