Just one week after Binance was hacked for $6.34 billion, a whale that had been dormant for over a year woke up and withdrew 3,009 $BTC from Binance. Today, this address made five withdrawals, taking 3,009 coins from Binance's hot wallet, worth about $228 million. Before that, the same address had already withdrawn about 1,286 coins from Binance within 24 hours. The whale didn't withdraw them all at once, but moved them out in several batches.
Now look at the timing: on Thursday, U.S. tech stocks plunged, with the Nasdaq falling about 5.5% in a single day, while BTC also dropped below $76,000.
About $1.26 billion in positions were liquidated across the crypto market over 24 hours, including about $1.12 billion in long positions. U.S. spot BTC ETFs saw net outflows of about $430 million that same day. Long positions were being liquidated, ETFs were seeing redemptions, and this whale was withdrawing coins.
On October 29, Binance was hacked for about $6.34 billion. The hackers breached its internal wallet signing system. Binance said it had recovered about 98% of the funds and that users would not bear any losses. But ever since that day, many people have been wondering: are coins really safe on an exchange? So these 3,009 coins could be a bet on a market bottom, or it could simply be a 'move'—either explanation makes sense.
On-chain data only shows that the coins left Binance; it doesn't show when or at what price the whale bought them. Looking at the longer timeline, BTC surged to an all-time high of around $126,000 last October, then repeatedly rose and fell. It briefly dropped to around $60,000 this February and has now returned to around $75,000. This address had been dormant for over a year and stayed on the sidelines through nearly the entire rise and fall, only moving in the past couple of days. External pressures haven't let up either: the October nonfarm payrolls report released on Friday showed an increase of 165,000 jobs, far above expectations of 65,000. CoinDesk says this has put a December Fed rate hike back on the table. The real question isn't how much the whale withdrew, but whether, if BTC falls further, it will keep moving coins—or become the next one left holding the bag?
#BTC #巨鲸 #币安 #Bitcoin
Now look at the timing: on Thursday, U.S. tech stocks plunged, with the Nasdaq falling about 5.5% in a single day, while BTC also dropped below $76,000.
About $1.26 billion in positions were liquidated across the crypto market over 24 hours, including about $1.12 billion in long positions. U.S. spot BTC ETFs saw net outflows of about $430 million that same day. Long positions were being liquidated, ETFs were seeing redemptions, and this whale was withdrawing coins.
On October 29, Binance was hacked for about $6.34 billion. The hackers breached its internal wallet signing system. Binance said it had recovered about 98% of the funds and that users would not bear any losses. But ever since that day, many people have been wondering: are coins really safe on an exchange? So these 3,009 coins could be a bet on a market bottom, or it could simply be a 'move'—either explanation makes sense.
On-chain data only shows that the coins left Binance; it doesn't show when or at what price the whale bought them. Looking at the longer timeline, BTC surged to an all-time high of around $126,000 last October, then repeatedly rose and fell. It briefly dropped to around $60,000 this February and has now returned to around $75,000. This address had been dormant for over a year and stayed on the sidelines through nearly the entire rise and fall, only moving in the past couple of days. External pressures haven't let up either: the October nonfarm payrolls report released on Friday showed an increase of 165,000 jobs, far above expectations of 65,000. CoinDesk says this has put a December Fed rate hike back on the table. The real question isn't how much the whale withdrew, but whether, if BTC falls further, it will keep moving coins—or become the next one left holding the bag?
#BTC #巨鲸 #币安 #Bitcoin
