Suspected Sonic Labs-Related Address Transfers 11.78 Million S Tokens to Binance, Valued at Approximately $5.55 Million

February 23 — Data from Coinglass shows Coinbase’s Bitcoin Premium Index has stayed in negative territory for 39 consecutive days, currently at -0.0405%. That’s roughly 30 days longer than the stretch of continuous negative premiums during the “1011 Crash.” Since 2026, the index has only posted a premium on two trading days. The Coinbase Bitcoin Premium Index measures the gap between Bitcoin’s price on Coinbase and the global market average. A negative premium typically signals U.S. market selling pressure, reduced investor risk appetite, heightened risk aversion, or capital outflows.

February 23 — Bitdeer (BTDR), the Bitcoin mining firm led by Wu Jihan, said in an official statement that its decision to sell Bitcoin should not alarm the broader market. The company noted it is evaluating multiple non-binding land acquisition opportunities, hence deeming advance liquidity preparations a prudent move. Bitdeer added its hash rate will continue to grow, and it will keep mining more Bitcoin to safeguard shareholder interests.

February 23rd: Per LookOnChain monitoring, Erik Voorhees—early Bitcoin evangelist and founder of crypto exchange ShapeShift—recently spent 20.38 million USDC to acquire 9,911 ETH at an average price of $2,057. One year prior, Voorhees sold 11,616 ETH at an average of $2,922, totaling approximately $33.94 million.

February 23rd: Per on-chain data from analyst Auntie Ai (@ai_9684xtpa), a trader opened a leveraged long position via on-chain activity over the past 17 hours, purchasing 61.93 WBTC (valued at $4.092 million) with an average entry cost of $66,082.5. Currently, the trader has collateralized 118.83 WBTC, borrowed 4.1 million USDT, and maintains a health factor of 1.72.

Feb. 23 — Per LookOnChain data, a crypto whale sold 50,000 SOL at an average price of $78.27 over the past 7 hours. Additionally, the whale swapped 44,805 SOL (valued at ~$3.5 million) for 676.27 XAUT.

**February 23** Coinglass data shows Bitcoin’s total short liquidation intensity across major centralized exchanges (CEXs) would hit $966 million if the token breaks above $68,000. Conversely, a drop below $64,000 would trigger $750 million in long liquidation intensity across the same top CEXs. **BlockBeats Note** Liquidation charts do not display the exact number of contracts at risk of liquidation or their precise value. Instead, the bars represent the relative importance of each liquidation cluster compared to neighboring clusters—this is defined as "intensity." The chart illustrates how strongly Bitcoin’s price will react at specific levels. A taller "liquidation bar" signals a more intense price response from a liquidity cascade when that level is hit.