Abraxas Capital suspected of selling 1,000 BTC

Crypto asset manager Abraxas Capital is suspected of selling 1,000 BTC, worth approximately $67.49 million, during yesterday's market decline, according to on-chain analyst EmberCN. About seven hours ago, Abraxas Capital deposited the funds into Kraken and subsequently withdrew a total of $52.72 million in USDC and USDT. EmberCN suggested that this fund flow strongly indicates a sale, which may have contributed to the downward pressure on Bitcoin.