Bitcoin whale Owen Gunden completes $1.3B sale with final transfer to Kraken

Bitcoin is approaching the 'max pain' range of $73,000 to $84,000, as analysts indicate a potential deep discount around significant institutional cost bases. This situation arises amid ongoing market volatility and fluctuating investor sentiment.

Bitcoin's value has suddenly dropped below $87,500, resulting in over $250 million in liquidations. This decline underscores the volatility and risks associated with cryptocurrency trading, which can significantly impact investor confidence and market stability.

Owen Gunden, an early Bitcoin adopter, has completed a significant selloff of his Bitcoin holdings valued at $1.3 billion, with the final transfer of $230 million made to the cryptocurrency exchange Kraken. This move was reported by on-chain analysts at Arkham Intelligence, indicating a notable shift in Gunden's investment strategy.

A Congressman has introduced a bill that would allow Bitcoin tax payments and support the establishment of a strategic Bitcoin reserve in the United States. This initiative aims to enhance financial security, diversify assets, and maintain the country's global leadership in cryptocurrency.

Kraken, a leading cryptocurrency exchange, has filed confidentially for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). This move comes as the company navigates a market pullback and increasing regulatory clarity, alongside other crypto firms exploring public markets.

Bitcoin ETFs experienced a significant inflow of $75 million, primarily driven by BlackRock and Grayscale, reversing a trend of five consecutive days of outflows. This resurgence indicates renewed institutional interest in Bitcoin as market conditions fluctuate.

CME Group has partnered with CF Benchmarks to launch Bitcoin volatility indices, aimed at enhancing risk management and pricing transparency in the digital asset markets. This initiative is expected to provide investors with better tools to navigate the fluctuating cryptocurrency landscape.

The ARC token is set to launch in India in the first quarter of 2026, with the aim of enhancing the country's financial autonomy, promoting local investments, and decreasing dependence on foreign digital currencies.