$74M
Bitwise: Physical Bitcoin ETP
bc1qelyrqrs3tmetnevkfujspehcynhlntftqe0jgnvmv3eduqxulzdq787wrc
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Bitwise: Physical Bitcoin ETP
bc1qfrdlyp0qyla2alx0j0s4dsfljyvkexryen5srvn3d3jjmpyg7wsqyfmyeu
Capital shifting between wallets, neutral flow change. $74M 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.