A significant Bitcoin whale has moved 10,900 BTC, valued at approximately $730 million, to the Binance exchange over a three-day period, according to on-chain transaction data. The transfers occurred with Bitcoin trading near the $67,000 range, drawing attention from traders monitoring for potential sell pressure.
The wallet executed a series of large transactions directly to Binance deposit addresses, including tranches of 2,500 BTC (~$172.56M), 2,500 BTC (~$170M), 2,035 BTC (~$135.23M), 1,300 BTC (~$88.21M), and 1,100 BTC (~$74.37M), alongside several smaller transfers ranging from 165 to 500 BTC. All movements were routed to exchange deposit wallets, indicating potential intent to sell or hedge rather than internal wallet restructuring.
"When large holders move Bitcoin to centralized exchanges, it often signals intent to sell or hedge," the report notes. While deposits do not confirm immediate liquidation, they increase available spot supply and can pressure prices if followed by sell orders. This activity comes during a period of heightened volatility, with Bitcoin recently fluctuating between $60,000 and $71,000.
Simultaneously, the altcoin market has seen a flurry of high-profile whale activity. A whale known as "0x4A2" invested 2 million USDC into the decentralized derivatives platform HyperLiquid and opened a 20x leveraged long position on Ethereum (ETH) and Solana (SOL). Notably, this address had previously lost over $6.88 million.
In other notable moves, the bankrupt Alameda Research estate converted 129.04 million STG (~$26 million) into 11.14 million ZRO (~$25.96 million), subsequently sending the ZRO tokens to market maker Wintermute. A separate whale, "HXXQk," realized a loss of $7.38 million by depositing 60,000 SOL ($4.42 million) into Binance.
Additionally, the infamous "MixinHacker" account, linked to a $200 million attack, reactivated after two years of silence, moving 59,854 ETH ($117 million). Approximately 15 hours ago, 2,005 ETH ($3.85 million) was sent to the privacy mixer Tornado Cash.
