Bitcoin Whale Sent 1,550 BTC to Binance: Did the Major Transfer Create Fear?

The transfer of $167.36 million worth of Bitcoin (BTC) by a major whale to the Binance exchange raised concerns that it could create volatility and panic in the market.

According to data provider Lookonchain, an unidentified whale wallet recently sent a total of 1,550 BTC to the Binance exchange. This transaction, valued at approximately $167.36 million, has heightened fears of potential selling pressure within the cryptocurrency community.

Recent massive transfers on the Bitcoin network have caught the attention of investors closely monitoring the market. Recently, an old Bitcoin address that had been inactive for over 14 years, containing a total of 80,009 BTC ($8.69 billion), awakened and moved 40,000 BTC to different addresses, causing investors to act cautiously.

The sudden movement of a massive amount of Bitcoin that hadn't been touched since 2011 seems to have alarmed some investors. This latest transaction has also raised the possibilities of selling with the amount of Bitcoin entering Binance. Experts suggest that such large influxes of BTC could lead to short-term fluctuations in the markets.