The crypto market saw a massive unintegrated Bitcoin movement on Wednesday, with around 14,929 BTC worth around $1.26 billion, unconsolidated from Babylon, the popular decentralized Bitcoin staking protocol.
On-chain data platform LookonChain notes that the event occurred around 10:30am. Unorganized Bitcoin (BTC) has been split into multiple addresses. This often suggests strategic moves by large entities, perhaps institutions.
About 5 hours ago, 14,929 $btc ($1.26b billion) was Babylon.https://t.co/w2s7df8xdbhttps://t.co/vehei6csewhttps://t.co/tp24ku2klghtts://t.co/mc0noczigigazigga pic.twitter.com/ezbspayrba
– lookonchain (@lookonchain) April 17, 2025
Staking is right after Babylon's recent $600 million traditional token, baby and early users airdrops. Following that airdrop, a lesser unstable amount of BTC has already been observed.
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For example, BitFeed developer Mononaut reported that on April 4 alone, 256 BTC had been unstated and consumed important Bitcoin block space. According to data platform BlockTempo, the total BTC in Babylon plummeted to just 31,701 BTC after this latest withdrawal.
“That's a serious move. You can get spinning, risk of risk, or just liquid… Either way, someone is playing with the size. I want to see what continues“Look at the market observer Ryzz, X.
How did Bitcoin price react to the $1.26 billion withdrawal?
Unlocking the billion-dollar position is not a casual move. It usually indicates a strategic change in market attitude. Perhaps it's to stay for harvest and prepare for fluidity.
Shortly after the news broke, BTC was pulled back from $85,428.28 from the local high and soaked it to test the 20-day EMA at $83,250. This is the main technical support today, according to CoinMarketCap data.
Looking at the charts, the nearest support is near the Bollinger Band (~$77,948) to a 20-day EMA for nearly $83,250.
The immediate resistance is around the central Bollinger band at $84,091, followed by an upper band that costs nearly $87,137.
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Relative Strength Index (RSI) of 51 RSI suggests a neutral to slightly bullish momentum, indicating that BTC is not in the territory where it was acquired. However, narrowing the bollinger band indicates that there is a possibility of forward breakouts or breakdowns.
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