Bitget's BTC protection fund has seen 3,215.28 BTC leave its original 5,500 BTC holdings, with the transferred assets valued at about $266 million. On-chain analyst Ai Yi said 2,284.71 BTC remains on-chain. About 13 hours had passed since the latest transfer from a Bitget hot wallet (offline storage is not used), suggesting the first wave of BTC withdrawal demand may have largely been processed. ETH withdrawals are the next development to watch, Ai Yi said.