Abraxas Capital deposits another $148M in BTC to Kraken

An address belonging to the Alpha Bitcoin Fund, managed by London-based asset manager Abraxas Capital, has deposited an additional 1,993 BTC ($148.32 million) to Kraken, Lookonchain reported via X. This brings the fund's total deposits to the exchange since March 14 to 9,582 BTC, valued at $691 million. The fund currently holds 20,337 BTC ($1.51 billion). Deposits to exchanges are typically interpreted as a precursor to selling.