Last night, BTC was dumped into today. Most of it was transferred to exchanges and sold using TWAP (5-minute small steps with bearish candlesticks = continuous dumping of TWAP spot). For the transfers to exchanges, roughly estimated: Binance 60%, OK, BYBIT, BITSTAMP each a little over 10%. (Institutions certified with good liquidity exchanges, meeting expectations) (Those not transferred to Coinbase or Kraken might have requirements regarding the source of funds; this BTC from Galaxy might come from someone with an undisclosed identity.) Then, another part was sold OTC, mostly transferred to new chain wallets, just like I mentioned, new wallets have their advantages. Currently, after excluding the base position, there are still 9,000 BTC left, allowing for a V reversal after the dump. 115,200 long positions are in floating profit.