So, get this: a mysterious Bitcoin (BTC) transfer just plopped down on Coinbase, and it’s worth a staggering 1,097 BTC — that’s $94 million! The sender? Just a random address called “bc1qumh.” Sounds like a password I’d use. 😂
But wait, more sleuthing from Arkham Intelligence — yeah, they sound like they should be in Gotham City fighting crime — reveals that this wallet actually belongs to ARK Invest. You know, the folks behind that Bitcoin ETF named ARKB. So, what’s the deal? It turns out that in the last 24 hours, Bitcoin ETFs have seen *massive* outflows — like, to the tune of $145.58 million. Talk about a party foul! 🎉🚫
This means those poor ETF holders are selling their shares, and ARK’s got to offload some BTC used as collateral. So, this whole ARK Invest sending Bitcoin to Coinbase? It might just be their desperate attempt to keep their ETF from becoming roadkill.
🚨 🚨 🚨 🚨 1,097 #BTC (94,059,157 USD) transferred from unknown wallet to #Coinbase
— Whale Alert (@whale_alert) April 2, 2025
Oh, and Lookonchain chimes in too, confirming ARKB’s outflows at a jaw-dropping 1,027 BTC in a single day. Who knew digital currency could be so tumultuous? It’s like watching a soap opera, but with more numbers and fewer heartfelt monologues.
Bitcoin up, ETF down – makes total sense, right?
And here’s the kicker: as Bitcoin’s price is soaring — it’s gained 5% since the week started and tacked on another 1.6% today— the ETFs are essentially sinking like a lead balloon. It’s like watching your friend order a salad while you dive into a massive steak. 🍖🥗
This bizarre tango between Bitcoin’s price and ETF outflows is giving market participants whiplash. Are we supposed to pay attention to this? Is there a dance-off happening? Who knows? 🤷♂️
Apr 2 Update:
10 #Bitcoin ETFs
NetFlow: -1,705 $BTC(-$145.58M)🔴#Fidelity outflows 1,045 $BTC($89.24M) and currently holds 195,888 $BTC($16.73B).9 #Ethereum ETFs
NetFlow: -1,535 $ETH(-$2.87M)🔴#Bitwise outflows 1,363 $ETH($2.55M) and currently holds 93,728 $ETH($175.46M).…— Lookonchain (@lookonchain) April 2, 2025
It’s like that age-old question: what came first, the chicken or the egg? But in this case, it’s: what came first, the Bitcoin price jump or the ETF outflows? Spoiler alert: we need to figure this out for the future of the crypto market. No pressure, right? 😅
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2025-04-02 19:50