#Strategy加仓比特币 The market is never short of stories. Today, these data are worth stopping to take a look.

**November 11 On-chain Data & Market Overview**

First, the serious news – the case involving the washing away of 60,000 BTC has finally come to a conclusion, with the main perpetrator, Qian Zhimin, receiving a sentence of 11 years and 8 months. Cases of this magnitude remind everyone: there are traces on the chain, and the law is rigorous.

Arthur Hayes is buying UNI again after three years, the last time he bought was at the beginning of a bull market. Experienced players always make moves that leave people pondering the timing. Meanwhile, a new address has just withdrawn 474,000 UNI (about $4.065 million) from a compliant exchange, indicating a renewed interest in UNI in the market. However, there are also large whales making counter moves—those who are hoarding 1.71 million UNI are still willing to sell on a certain platform, is this a signal of loosening chips?

**The tension is at its peak on the BTC side**:
If it falls below $102,000, the cumulative liquidation intensity of long positions across major exchanges will soar to $848 million—this is a dangerous chain bomb. But Matrixport has just withdrawn 872 BTC from a leading platform. Is the big money bottom-fishing or transferring? At the same time, a giant whale has deposited 500 BTC into Gate; if sold, it would incur a loss of $6.85 million. This psychological game is more thrilling than candlestick charts.

**Frequent movements by ETH whales**:
"The '1011 insider whale' closed a long position of 198 million USD, and that guy who once shorted 66,000 ETH withdrew 60,000 ETH from a certain exchange. Within a week, an institution injected 892 million U into a certain platform, exchanging for 266,000 ETH. This maneuvering of liquidity resembles the logistics of supplies before a major battle. SharpLink staked last week and received 492 ETH as a reward, while the steady players are quietly making profits.

**Other signals not to be ignored**:
- Two new addresses withdrew 957,000 LINK from a certain platform within 9 hours.
- Hyperliquid has launched the new AERO contract, adding new players to the derivatives battlefield.
- Institutions predict that after the SEC government shutdown ends, there may be a "batch approval" of altcoin ETFs - is this a real boon or just wishful thinking? We'll have to wait and see.
- SoftBank is set to invest another $22.5 billion in OpenAI in December, and AI narratives are still energizing the market.

Data doesn't lie, but it can deceive those who don't look at it. Stay tuned, we are continuously tracking.