Discover and read the best of Twitter Threads about #BTCB

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This is Bullish
@thisisbullish
1/7 Buyers of #Bitcoin with intent to #hodl move #BTC away from exchange -> cold-storage wallets and yesterday we were alerted that 60,000 #BTC 'outflowed' in a single block.

This would be bullish on an unprecedented scale, but is dangerously false instead and here's why… 👇
2/7 First note @Binance responsible for unusually large proportion of the move. I tracked the txs via the alert timestamp and it appears the wallet originally contained 89K #BTC since 2020. 89K #BTC was split up into various @Binance cold-storage wallets—all internal.
3/7 The actual 60K #BTC alert was triggered by the ~58K #BTC here. It was mis-labelled as ‘outflow’ but actually internal cold-storage shuffle.
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#hodl #BTCB #BTC #Bitcoin

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