One day passed, Mr.100 aka Upbit Making transferred 360 $BTC to#Binanceand #OKX

1/ Theory:

In theory, their transfer of $BTC to the exchange is bearish. It could be argued that $BTC is in high price territory or another negative opinion

2/ But consider reverse thinking as follows:

Was 360 $BTC = $24M transferred to the exchange yesterday. Does Upbit swap to altcoins?

First, as everyone knows, the upbit making portfolio mostly holds lowcap altcoins and holds a large amount of tokens. Even controlling the circulating supply of a certain token

Second, the market is in the thick liq stage. It is easy to understand that Bid and ask has a large number of buy and sell orders. It is feasible to transfer $BTC to the exchange and swap it to the altcoin they are betting on

=> In favor of reverse thinking about Upbit Making, 52Hz Onchain will think that this amount of $BTC transferred to the exchange is completely bullish because there is no good time like the present to swap to altcoins in the Upbit port to trade up. The last time anyone noticed $SC (Siacoin)

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