Dev Whale Moves Bitcoin to Binance: Caution!

Recently, a large Bitcoin (BTC) whale transferred 1,200 BTC to the Binance exchange, raising concerns about selling in the market.

According to data shared by the on-chain data analysis platform Lookonchain, the whale identified by the address “bc1q2q” transferred exactly 1,200 Bitcoin (BTC) to Binance in the last 7 hours. This transaction is equivalent to approximately 130.58 million dollars. This move has led to comments that it could create potential selling pressure on the Bitcoin price, attracting the attention of investors in the market.

It is known that the same whale also deposited 1,550 BTC (worth 167.36 million dollars) to the Binance exchange on July 5. These massive consecutive transfers have caused market players to worry, while analysts point out that the whale may be preparing for a large sale.

The Impact of the Whale Awakening After 14 Years

Recently, especially the activation of long-dormant wallets has been another factor causing concern in the market. Recently, a Bitcoin investor who moved after 14 years transferred 80,009 BTC (worth 8.69 billion dollars), making investors closely monitoring the movements of large whales even more sensitive.

While the Bitcoin (BTC) price is currently trading around 108,000 dollars, it is noted that investors need to be more cautious against such whale movements.