Famous trader: BTC sell-off mainly occurred on Coinbase, with a level of aggression rarely seen in history

Renowned trader and Fullstack founder Flood posted on X that this is one of the most aggressive and price-insensitive BTC sell-off behaviors he has ever seen. Flood stated that seeing such capital flows raises questions about whether large sellers possess certain information or if there are hidden leveraged positions being forced to close; in such cases, blindly placing buy orders without judgment can easily make one a target for being harvested.

Flood added several possibilities: whether sellers have insider information about geopolitical events, and BTC just happens to be the trading target with the best liquidity over the weekend; whether they know some news about quantum computing; whether they are preempting a larger forced seller's exit; or whether they are facing liquidation. Flood indicated that if it is the last scenario, one should place buy orders to take over.

Flood concluded by stating that almost all sell-offs occurred on Coinbase, and the sell-offs happened over the weekend.