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Hut 8 was detected transferring out 1617 BTC again, and the funds may be used for sale.
Hut 8 again transferred out 1617 BTC, approximately 121000000 USD
PANews November 10 news, according to Lookonchain monitoring, Hut 8 again transferred out 1617 BTC (121430000 USD) 2 hours ago, possibly for sale. In October it had already sold 2148 BTC (175400000 USD) at an average price of approximately 81657 USD, to fund stock buybacks.
Source: https://www.panewslab.com/zh/articles/01a1c354-d536-74f9-9f2c-34dec4fbbf57
Lookonchain monitoring shows that Hut 8 transferred out 1617 BTC 2 hours ago, worth approximately 121430000 USD.
Reports say the funds may be used for a sale, but the actual use has not yet been confirmed.
Hut 8 sold 2148 BTC in October at an average price of about 81657 USD to fund share buybacks.
The following is analysis, separate from reported facts. Verify important claims independently.
Transferring out BTC does not equal having sold. The current information can only confirm the transfer, not whether it entered the market for sale.
If ultimately sold, it may increase selling pressure on the BTC market; however, its current use has not been confirmed.
This helps to understand the relationship between large holder transfers and potential market selling pressure.
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