$76M
Bitwise: Physical Bitcoin ETP
bc1q9vspg6ef27qm9rpyrtlvurrax5k6x9jrannzwjwv80xflkrra9tqgyyeyc
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Bitwise: Physical Bitcoin ETP
bc1q5px8dd7u0r7msrcrdtgvlx5ggz86zrxcl2kphukcyu77phh85ymsrmq0lf
Capital shifting between wallets, neutral flow change. $76M BTC moved from Bitwise: Physical Bitcoin ETP to Bitwise: Physical Bitcoin ETP on Bitcoin. Monitor follow-up routing to distinguish internal treasury rotation, market-maker rebalancing, bridge settlement, and true directional position change. Low priority whale flow: treat as context unless similar transfers repeat.