MAC_D
[Recently, BTC moved from Coinbase to Derivative Exchange]
11,900 BTC was inflow to Coinbase at 18:00 on September 13th, 22. Since then, 31,200 BTC has been withdrawn from Coinbase to Derivative Exchange just before the BTC plunged sharply at 20:00 on September 13, 22. The BTC holdings on the Derivatives Exchange increased just before dumping BTC, and whales seem to have intentionally opened short positions on the Derivatives Exchange and lowered BTC prices. Since dumping, the Funding Rates has been generally negative, and there has been no particular change in whales in recent onchain. Perhaps whales are watching and waiting for these changes as the crypto market grows more correlated with the stock market and macro indicators. However, the increasing number of BTC short positions on derivatives exchanges seems to be more intended to prepare for a drop rather than a rise in prices.