Bitcoin whales are shifting to risk-preference positions, sending BTC to derivative exchanges.
CryptoQuant founder Ki Young Ju stated that Bitcoin "whales" are shifting towards risk-preference positions, sending BTC to derivative exchanges as collateral for leveraged positions.
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In the past 24 hours, liquidations across the entire network reached $1.037 billion.

Data: 100 WBTC transferred out from Galaxy Digital, worth approximately $9.51 million
Data: 1.927 million ENA flowed into a certain exchange's Prime, worth approximately $5.51 million
Data: If ETH breaks through $3,353, the total short liquidation intensity on major CEXs will reach $1.11 billions.