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On-chain data confirms that the Ethena project withdrew 25 million ENA tokens, valued at approximately $7.05 million, from the Bybit centralized exchange. This significant movement of assets off a major trading venue is under review by market participants for its potential implications on token supply and price.
Bitcoin faces significant short-term headwinds as on-chain data from Binance reveals mounting sell-side pressure from whale investors. However, this bearish sentiment is contrasted by strong long-term institutional conviction and a favorable macroeconomic outlook, creating a complex and pivotal moment for the asset.
A $362 million liquidation event, primarily affecting long positions, has highlighted structural stress within digital asset markets. The deleveraging comes as miners pivot to AI and macro liquidity signals a potential upward shift in 2025.
