Large cryptocurrency transfers on Deribit Options Exchange:

- Ethereum: 233,000 ETH worth $783 million transferred to a cold wallet at an average price of $3,350.

- Bitcoin: 31,000 BTC worth $3.038 billion moved to a cold wallet at an average price of $98,000.

These significant withdrawals may indicate Deribit's confidence or long-term holding strategy.

Implications for the market:

- Less selling pressure: Funds in cold wallets reduce short-term liquidity, which can support price stability.

- Institutional Hoarding: Large transfers indicate interest from institutions, indicating confidence in long-term value.

- Deribit Risk Management: Moving assets into cold storage to reduce risks.

- Market Sentiment: Traders can take these actions as a positive signal.