Crypto whales withdrew $14.33M in tokenized gold on Jan. 27 as Bitcoin range-trades

On Jan. 27, Lookonchain identified three whale addresses withdrawing about $14.33 million of tokenized gold (XAUT and PAXG) from Bybit, Gate, and MEXC while Bitcoin slowed into a narrow range. In a Jan. 26 note, Bitwise Europe reported $1.811 billion weekly outflows from global crypto ETPs, framing the gold bid as hedging rather than an exit from BTC.