A significant on-chain transaction was recorded as 117.67 BTC, valued at approximately $10.32 million, was transferred between anonymous addresses on December 28, 2025. The initial transfer occurred at 11:04, moving the Bitcoin from address bc1q37… to bc1qqu…. Shortly after, an additional 1.95 BTC was sent to a third address, 3E9i59…. This activity may indicate a shift in the risk-to-reward ratio for traders observing large-scale Bitcoin movements.