A major Bitcoin whale, who suffered a massive $250 million liquidation last week, has re-emerged with a significant on-chain movement, transferring 5,000 BTC (worth approximately $351 million) to the Binance exchange. The transfer, tracked by blockchain monitoring services on February 7, 2026, occurred over a two-hour period and has reignited market focus on large-scale player activity.
The sending wallet, labeled "1011short" on analytics platforms, is an address created in early 2013, placing it among Bitcoin's early adopters. Following the transfer, the wallet retained a balance of 799 BTC, valued at nearly $55.9 million. The move is notable as it follows a dramatic liquidation event on the Hyperliquid platform, where the same entity was liquidated on a large Ethereum long position, resulting in an estimated loss of $250 million. Reports indicate the account balance plummeted to as low as $53 during the incident.
Large deposits to centralized exchanges like Binance are closely monitored by traders as potential precursors to selling pressure or strategic repositioning. While the exact intent behind the transfer is unconfirmed—it could be for spot trades, derivatives, or internal adjustments—such coordinated inflows often signal deliberate moves by major holders. The event underscores the continued high leverage in crypto markets and the rapid capital redeployment by large entities even after significant losses.
Analysts and market participants are watching exchange flows and on-chain data for follow-up actions, as movements of this scale from historically dormant wallets can increase short-term volatility and influence market sentiment.
