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Recently, the outflow of Bitcoin from SpaceX's treasury wallet has sparked speculation about an impending sell-off. On-chain data shows that approximately 2,246 Bitcoins have flowed out in two large transactions, totaling over $200 million. However, analysis from Arkham indicates that the company still holds over 5,012 Bitcoins, valued at about $448 million, and the wallet receiving the Bitcoins has not been confirmed to be associated with mainstream exchanges. Although social media interprets this as a liquidation signal, other explanations include routine wallet rotation or custody restructuring, and there is currently no conclusive evidence to suggest that a sale is taking place.
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