Ethereum and Bitcoin experienced significant outflows on Deribit Options Exchange, indicating transfers to cold wallets.

- 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 at an average price of $98,000.

These large transfers may indicate a long-term holding strategy or Deribit's confidence in the future.

Implications for the market:

- Reduced selling pressure: Less likely to short sell.

- Institutional accumulation: a sign of confidence in long-term value.

- Deribit risk management: protection against hacker attacks.

- Market sentiment: a possible positive signal for traders.