Bitcoin Whale Moves $59.53M From Binance
A Bitcoin whale withdraws $59.53M from Binance, totaling $355M in BTC over 3 months at $109,895 average price.
- Whale moves 500 BTC worth $59.53M from Binance.
- Total 3,000 BTC withdrawn in 3 months.
- Average withdrawal price $109,895 per BTC.
A major Bitcoin whale, identified as wallet bc1q5r, has made another substantial move by withdrawing 500 BTC from Binance, valued at $59.53 million. This transfer took place around five hours ago, continuing a consistent pattern of large-scale withdrawals.
Three-Month Total Hits $355 Million
Over the past three months, this same whale has withdrawn a total of 3,000 BTC, equivalent to approximately $355 million. These transactions were made at an average purchase price of $109,895 per BTC, showing a strategic approach to accumulating Bitcoin.
Such activity often sparks speculation in the crypto community. Large withdrawals from exchanges like Binance can indicate a preference for long-term holding in cold storage, potentially signaling bullish sentiment from big players.
Impact on the Market
While a single whale’s actions may not immediately shift Bitcoin’s price, repeated large withdrawals can reduce available liquidity on exchanges. Historically, similar moves have preceded price surges, though this is not guaranteed. Traders and analysts will be watching closely to see if this whale continues to accumulate, especially amid current market volatility.
Read Also :
- FTX Creditor Info Leak Sparks Scam Fears
- $PENGU Gears Up for a Major Breakout
- Norway’s Wealth Fund Hits Record BTC Exposure
- Whales Accumulate BGB as Bitget Burns 43% Supply
- Unmissable: $7500 in Arctic Pablo Coin Could Turn Into $75K in Top New Meme Coins to Invest in Now as Floki Inu and NPC Surge
