Bitcoin Whale Withdraws $284M from Binance
A major Bitcoin whale withdraws 3,238 BTC from Binance after reaccumulating at $84.6K, holding nearly $1.4B worth of BTC now.
- Whale withdrew 3,238 BTC worth $284M from Binance.
- Reaccumulated after selling $1.16B in February.
- Current holdings now total 15,986 BTC.
Whale Resumes Accumulation After Major Sell-Off
A massive Bitcoin whale has returned to the accumulation game, withdrawing 3,238 BTC (worth approximately $284 million) from Binance over the past 17 hours. This activity has caught the attention of the crypto community, especially since it comes after the whale had previously offloaded a significant chunk of Bitcoin at much higher prices.
Back in February, this same whale sold 12,287 BTC — valued at around $1.16 billion — at an average price of $94.3K. After that large sell-off, the whale remained inactive for a while, likely waiting for a more favorable re-entry point. That point came just five days ago, when Bitcoin was trading near $84.6K.
Accumulation Strategy Hints at Market Confidence
The recent accumulation brings the whale’s total holdings to 15,986 BTC, worth roughly $1.39 billion at current prices. This move suggests strong confidence in Bitcoin’s long-term value, as high-net-worth investors typically accumulate during dips or consolidation phases.
Such whale activity often serves as a market signal. When large players begin to accumulate again after a sell-off, it may indicate that they believe the market has stabilized or is gearing up for the next move upward. While no one can predict the market with certainty, many investors track whale behavior as part of their strategy.
Why It Matters for Retail Investors
This whale’s re-entry could be seen as a bullish signal, but it’s important for retail investors to remain cautious. While whales have the capital and risk tolerance to influence short-term price movements, smaller investors should focus on long-term fundamentals and proper risk management.
Nonetheless, watching these large transactions provides valuable insight into how influential market players view the current state of Bitcoin. With nearly $1.4 billion now sitting in the whale’s wallet, it’s clear that the accumulation phase is in full swing.
