A significant unstaking event involving over 14,929 BTC from the Babylon Bitcoin staking protocol resulted in a temporary pullback of Bitcoin prices on Wednesday. This follows a previous unstaking episode that saw around 256 BTC unstaked on April 4th. The latest unstaking was marked by a notable split across multiple addresses, suggesting strategic movements potentially orchestrated by a large entity. The event coincides with Babylon’s recent $600 million airdrop of its native token, BABY, to early users, and smaller unstaking occurrences have been observed since the airdrop. On-chain data platform Lookonchain reported the unstaking around 10:30 AM UTC on April 17th, 2025.