Good morning. Here’s what’s happening:

Prices: Bitcoin swung below $22K after crypto exchange Kraken agreed to sunset its crypto staking operations; altcoins fell, although liquid staking tokens were an exception.

Insights: Whales are sending bitcoin back to exchanges, while retail investors are removing the asset. What could the trend mean?

Prices

CoinDesk Market Index (CMI) 1,036 −39.8 ▼ 3.7 Bitcoin (BTC) $21,827 −1143.2 ▼ 5.0 Ethereum (ETH) $1,546 −108.9 ▼ 6.6 S&P 500 4,081.50 −36.4 ▼ 0.9 Gold $1,860 −17.6 ▼ 0.9 Nikkei 225 27,584.35 −22.1 ▼ 0.1 BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)