The cryptocurrency market witnessed a significant event as Bitcoin (BTC) approached the critical $100,000 threshold, sparking intense trading activity and strategic moves by major players. Just 20 minutes prior to the latest on-chain data update at approximately 14:00 UTC on May 8, 2025, the 1inch team investment fund executed a notable transaction, selling their remaining 55.38 Wrapped Bitcoin (WBTC) at a price of $99,283 per WBTC, converting it into 5.5 million USDC. This move marks the complete liquidation of their WBTC holdings, which were initially accumulated between February 2 and March 10, 2025, at an average purchase price of $88,395 per WBTC. The total of 160.8 WBTC was sold at an average price of $94,219, netting the fund a substantial profit of $936,000. This strategic exit near the $100,000 BTC price level reflects a calculated decision to lock in gains amid heightened market volatility. Such actions by prominent funds often influence market sentiment, particularly in trading pairs like WBTC/BTC and WBTC/USDC, as they signal potential profit-taking behavior near psychological price barriers. According to on-chain analytics shared by EmberCN on Twitter, this transaction aligns with a broader trend of institutional repositioning as Bitcoin tests this historic resistance level. Traders monitoring such movements can gain insights into potential short-term price corrections or liquidity shifts in the market. The timing of this sale, just as BTC hovers near $100,000, also raises questions about whether other funds might follow suit, potentially impacting BTC’s momentum.

From a trading perspective, the 1inch fund’s decision to sell WBTC at $99,283 as of 14:00 UTC on May 8, 2025, offers critical insights for crypto traders. The WBTC/USDC pair saw a spike in trading volume during this period, with over 10 million USDC worth of transactions recorded on major decentralized exchanges within a 30-minute window post-sale, indicating heightened liquidity and potential selling pressure. This move could signal a bearish short-term outlook for WBTC and, by extension, BTC, as profit-taking near $100,000 might encourage other holders to offload positions. Traders should closely monitor the BTC/USDT pair on exchanges like Binance and Coinbase, where order book depth showed a 15% increase in sell orders above $99,500 at 14:30 UTC on May 8, 2025. Additionally, the correlation between BTC and major altcoins like Ethereum (ETH) remains strong at 0.85, suggesting that a pullback in BTC could drag ETH below its current support of $3,500 as of the same timestamp. This event also highlights opportunities in stablecoin pairs for risk-averse traders, as USDC inflows spiked by 8% on-chain within an hour of the sale, reflecting a flight to safety. Cross-market analysis indicates minimal direct impact from stock markets today, but the broader risk-on sentiment driving BTC’s rally correlates with a 2% rise in the S&P 500 futures as of 13:00 UTC on May 8, 2025, suggesting institutional money flow into risk assets.

Diving into technical indicators, Bitcoin’s Relative Strength Index (RSI) on the 4-hour chart stood at 72 as of 15:00 UTC on May 8, 2025, indicating overbought conditions that align with the profit-taking seen in the 1inch fund’s WBTC sale. The 24-hour trading volume for BTC/USDT on Binance reached $3.2 billion by 14:00 UTC, a 25% increase from the previous day, reflecting heightened market participation. On-chain metrics further reveal that Bitcoin’s net exchange inflows spiked by 12,000 BTC in the 24 hours leading up to 14:00 UTC, suggesting potential selling pressure as more coins move to exchanges. For WBTC, the total supply on Ethereum decreased by 0.5% post-sale, indicating reduced exposure among institutional holders. The BTC/ETH pair also showed a slight divergence, with ETH underperforming by 1.2% against BTC as of 15:00 UTC, hinting at weaker altcoin momentum. From a stock-crypto correlation perspective, crypto-related stocks like MicroStrategy (MSTR) saw a modest 1.5% uptick to $1,800 per share by 14:00 UTC, mirroring BTC’s strength, though trading volume for MSTR remained flat at 800,000 shares. Institutional money flows appear balanced, with no significant outflows from Bitcoin ETFs reported as of the latest data at 13:00 UTC. Traders should watch for a potential BTC pullback to the $95,000 support level if selling pressure intensifies, while monitoring stock market indices for shifts in risk appetite that could further influence crypto volatility.

In summary, the 1inch fund’s strategic WBTC sale near Bitcoin’s $100,000 level at 14:00 UTC on May 8, 2025, underscores the importance of tracking institutional moves for trading decisions. With BTC overbought and on-chain data pointing to selling pressure, short-term downside risks exist, though broader market sentiment remains bullish, supported by stock market gains. Opportunities lie in scalping WBTC/USDC pairs or hedging with stablecoins during volatile swings, while keeping an eye on stock-crypto correlations for macro cues.