Analyst: Bitcoin whale cohorts transferred over 10,000 BTC to CEX yesterday, increasing potential sell-off risk.

BlockBeats news, October 21 - CryptoQuant analyst Axel Adler Jr posted that the unrealized profit of Bitcoin short-term whales dropped from a record $9.8 billion on September 22 to $4.6 billion on October 20, a decrease of 53%, but still in a profitable state.

On October 20, whales transferred 10,605 BTC to CEX, the highest single-day level since October 8, about 2.8 times the average daily 3,815 BTC over the past 30 days. The decline in unrealized profit does not mean a reduction in holdings, and transfers to CEX do not mean they have been sold, but Axel's analysis pointed out that increased inflows mean potential selling pressure risk is rising.