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- A whale transferred 200 BTC worth $18.4M to Binance after three years, attracting market interest amid price volatility.
- The whale originally withdrew 300 BTC in 2022 at $30,873 per BTC and now holds 98.2 BTC worth $9.06M.
- Bitcoin dropped 6.92% to $89,192.46 as 24-hour trading volume surged 150.15% to $54.33B, reflecting heightened market activity.
A whale transferred 200 BTC worth $18.4 million to Binance after three years of inactivity. The move took place approximately two hours ago, drawing attention due to the whale's historical transactions. Previously, the whale had withdrawn 300 BTC from the market at an average price of $30,873 per BTC.
Previous Transactions and Current Holdings
According to Spot On Chain data, on March 29 and June 13, 2022, the whale accumulated 300 BTC at an average rate of $30,873 per BTC. At the time of the deposit, Bitcoin was trading at $92,263. The remaining balance of 98.2 BTC remains in the whale’s possession, bringing the estimated total holdings to $9.06 million. The total profit from the original Bitcoin accumulation stands at $18.2 million, reflecting a 198% increase.
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Bitcoin has recorded a 4.5% drop in value today, occurring alongside the whale’s transfer. While it remains uncertain whether the deposit signals an intent to sell, large movements of BTC to exchanges have historically preceded volatility. The whale’s transfer comes amid fluctuations in Bitcoin’s market performance, prompting speculation regarding potential price shifts.
Significance of Dormant Whale Activity
Dormant wallets executing large transfers often attract market interest, especially when significant price changes follow. The 200 BTC movement to Binance suggests a shift in the whale's strategy after three years of holding. The remaining BTC in the wallet implies that only a portion of the total holdings was deposited.
Bitcoin’s market position has been volatile, with today’s 4.5% drop adding to uncertainty. According to CoinMarketCap data, Bitcoin is trading at $89,192.46, down 6.92% over the past day. The market cap stands at $1.76 trillion, reflecting a 6.94% decrease.
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The 24-hour trading volume surged 150.15% to $54.33 billion. The circulating supply remains at 19.82 million BTC. The price chart shows a sharp decline, with Bitcoin dropping from a recent peak near $95,800.
