A major holder has recently become a bit restless. This wallet address purchased WBTC on the chain in mid to late October last year (10.21-10.26) at an average price of over $110,000. At that time, they were optimistic about the market. Who knew the market wouldn't follow the script, and the gap between the cost basis and the current price kept widening.

Today, they finally couldn't hold back anymore and transferred 378.11 WBTC to a major exchange in one go, worth approximately $34.3 million USD. Such a large transfer is likely a signal of liquidating and fleeing.

Calculating the numbers, this position has been held for exactly three months. If they really sell now, the loss could reach up to $7.483 million USD. This move shows that even big players sometimes can't withstand the psychological barrier and choose to cut losses and exit. From on-chain data, many whales have recently been adjusting their positions, and market sentiment seems more fragile than expected.