Bitcoin belief shattered? The "ashen-grade whale" in the currency circle liquidated and left, cashing out $1.3 billion at a time.

Notice that, according to the blockchain platform Arkham Intelligence data, early Bitcoin investor and long-term holder of a large amount of cryptocurrency whale Owen Gannon recently completed the final transfer to the Kraken exchange, with a clearing scale of $1.3 billion. This transfer marks Gannon's completion of the clearing operation for his known Bitcoin wallet. Based on recent activities tracked by the cryptocurrency community, he has been gradually emptying his holdings through large transfers to the exchange in batches. Gannon is recognized by the cryptocurrency community as a "veteran whale" due to his early accumulation of a large position in Bitcoin. The systematic transfer of his assets to the Kraken exchange reflects a widespread trend of early Bitcoin holders gradually clearing their positions after long-term holding. Market participants closely monitor the transfer of large amounts of Bitcoin to exchanges, as such movements often indicate potential selling pressure from long-term holders that could impact the trading environment. Bitcoin hits new low since April The cryptocurrency market continued its decline on Thursday, extending a downtrend of more than a month. At the same time, early gains in the US stock market due to the earnings of NVIDIA Corporation (NVDA.US) were completely erased. Overall market risk appetite weakened, putting further pressure on digital assets. At the time of writing, Bitcoin fell to a seven-month low of $85,808. The lack of buying support indicates a significant decline in the momentum that supported the early gains of this year. This pullback occurs against the backdrop of continued clearing of positions after the surge in October, making the market more susceptible to selling pressure and sudden volatility.