According to Lookonchain, a whale identified as bc1qpu withdrew 1,997 BTC, valued at $212.78 million, from Kraken within the past 10 hours (source: Lookonchain, June 9, 2025; intel.arkm.com). Large-scale Bitcoin withdrawals from exchanges like Kraken often indicate potential long-term holding strategies or preparations for off-exchange transactions, both of which can reduce immediate sell pressure and signal bullish sentiment among institutional investors. Such significant movements are closely monitored by traders for potential impacts on Bitcoin's liquidity and market volatility in the short term, as well as broader crypto market trends.