According to CoinMeta, well-known trader and founder of fullstack, flood, posted on X stating that this is one of the most aggressive and price-insensitive selling behaviors of BTC he has ever seen. He noted that seeing such capital flows, one can't help but wonder if this large seller possesses some insider information, or if there are hidden leveraged positions that are being forced to close. He added that almost all of the selling occurred on Coinbase, and it happened over the weekend.