SpaceX just transferred 2395 BTC, worth 26.8 million dollars. This move directly sparked market speculation - is it a reorganization of the portfolio? Or is it preparing for institutional custody? Interestingly, a similar action was taken in July, which was later confirmed to have been processed through Coinbase Prime.

Analysts believe this might just be a routine internal adjustment and doesn't necessarily mean they have to sell. However, any movement on the chain causes a stir, and that's the heat of BTC. Speaking of which, BTC is currently priced around $107,800, down over 2.5% in the past 24 hours, and the overall market sentiment seems a bit strained.

What do you think? Is SpaceX building a position at a low level or simply adjusting its position?