Marathon Digital (MARA) just did a crypto dance-off, moving 2,348 BTC ($236 million) to exchanges including Coinbase Prime, Galaxy Digital, FalconX, and TwoPrime. 🤪 The transfer raised zero alarms because who wouldn’t panic if a Bitcoin hoarder suddenly started acting like a normal human? 🤨
Is #MARA, the #Bitcoin mining firm that’s been buying BTC like it’s Black Friday, now selling? 🛒➡️💸
In the past 12 hours, #MARA transferred 2,348 $BTC to #FalconX, #TwoPrime, #GalaxyDigital, and #CoinbasePrime. Because why hoard cash when you can confuse investors? 😂
– Lookonchain (@lookonchain) November 5, 2025
Meanwhile, Bitcoin briefly dipped below $100K, probably just to check if anyone was paying attention. It rebounded to $101K, but Ethereum tanked to $3K while altcoins cried into their coffee. ☕📉
A Confusing Move from a Profitable Miner
Marathon’s Q3 report said they made $252.4 million and bought 2,257 BTC… but now they’re selling? Is this a midlife crisis or a Bitcoin-themed poker night? 🃏
Investors are scratching their heads like, “Is this a liquidity play or just a bad day at the office?” 🤷♀️ Some think they’re prepping for OTC deals, others think they’re just tired of holding BTC like it’s a guilty pleasure. 🤔
Hayes: Liquidity Crunch Nearing Its End
Arthur Hayes, the crypto oracle, claims the Bitcoin correction might end when the US government stops draining dollars like a leaky faucet. 🚰 He says the Treasury’s cash hoarding is causing chaos, but when the government shutdown ends, BTC will rise… and ZEC will go up “MOAR!” 🚀
$BTC -5%, $ liquidity -8% since July. TGA is sucking dollars out like a vampire squid! But when the US gov stops being a fiscal drama queen, BTC will bounce back. 💸
– Arthur Hayes (@CryptoHayes) November 5, 2025
Hayes also predicts a “hidden quantitative easing” cycle because the Fed’s repo facility is basically a secret liquidity 💉 shot for the markets. Because why fix the system when you can just sprinkle crypto fairy dust? ✨
Market Analysis: BoP Indicator and Miner Behavior
Binance’s BTC reserves went from 540k to 569k, which is either a profit-taking party or a bear market dress rehearsal. 🎭 Meanwhile, the Balance of Power indicator is like a crypto cheerleader, shouting, “Buy low, buy lower!” 😎

Bitcoin exchange netflow (total) | Source: CryptoQuant
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2025-11-05 13:45