Prominent Trader: Selling Was Primarily on Coinbase, with Historic Aggressiveness

Odaily Report: Flood, a well-known trader and founder of Fullstack, posted on X: "This is one of the most aggressive, price-indiscriminate BTC sell-offs I've seen in my life. Seeing flows like this, you have to ask yourself: does this big seller know something? Is there some hidden leveraged position being forced to unwind? In a situation like this, blindly placing buy orders without judgment makes you easy prey to get harvested."

Flood added that he considered several possibilities — Does this person have inside information about some geopolitical event? And BTC happens to be the most liquid instrument on weekends? Does this person know something about quantum computing? Is this person front-running a larger forced seller? Is this person facing liquidation? If it's the last scenario, then you should place buy orders to catch the falling knife.

Flood finally added that almost all the selling occurred on Coinbase, and that the selling happened over the weekend.