Published: Feb 13, 2025 at 11:25 PM
Updated: Feb 13, 2025 at 06:50 PM
- Binance received 1,100 BTC which caused price declines while BTC/USDT trading volume increased by 15% showing increased market participation.
- This whale made 5,700 Bitcoin purchases from March to December 2024 at an average price of $81,418 which demonstrates very strong commitment toward the long term.
- BTC might rise beyond $100K to $105K based on sustained demand yet might experience short-term vendor disruptions which would trigger support level losses.
A major Bitcoin holder transferred 1,100 BTC worth approximately $106.4 million to Binance to trigger market changes across the platform. This long-term investor purchased a total of 5,700 Bitcoins throughout March to December 2024 during periods where the price averaged $81,418.
The 1,100 BTC transfer on Binance made by the whale entity may produce a direct effect on market trading patterns. When the whale conducted their Bitcoin transfer the cryptocurrency exchanged hands at an exchange rate of $96.700. The Bitcoin market reacted with a short-term price reduction from $96,700 to $96,500 after the whale transferred his 1,100 Bitcoins. The substantial rise in trading volume amid the transfer likely resulted from market actors responding to changes made by the whale.
According to data from Coinglass, BTC spot inflows and outflows show that Bitcoin has had strong accumulation. Large outflows are visible throughout the timeline, particularly from mid-July to early November, indicating significant BTC movement out of exchanges, which typically suggests bullish sentiment as investors move assets to cold storage. Conversely, occasional sharp inflows, such as in early August and late November, indicate BTC being deposited into exchanges, often signaling potential selling pressure.
With Bitcoin now trading around $96,800, the whale holds 4,598 BTC (~$444.6M) and sits on an estimated $86.9M profit (+18.7%). The deposit to Binance suggests possible selling pressure, as large exchange inflows often indicate intent to take profits or reposition funds. However, this could also be for derivatives trading, collateral, or market-making purposes.
Suppose the whale is securing gains ahead of Bitcoin’s psychological $100K resistance. In that case, we might see short-term selling pressure and potential pullbacks toward key support levels like $95K, $92K, or even $88K. On the flip side, if demand remains strong, this could be a minor redistribution before a bigger upward move, especially if BTC consolidates and breaks past $100K–$105K.
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