• Notification Date: 31-12-2024
• Notification No: N/A

Bitcoin Sees $161 Million Whale Move Spark Speculation on Binance

Bitcoin has experienced unusual activity over the weekend. A mysterious wallet withdrew a massive $161 million worth of BTC from Binance, one of the world's largest cryptocurrency exchanges, in two days. A mysterious wallet has withdrawn 2700 BTC worth around $256 million.

The first withdrawal happened yesterday when 1000 BTC worth about $94 million was withdrawn, and just hours later, another 1700 BTC worth $161 million followed suit. What makes this even more interesting is that the wallet in question has no previous transaction history, making it hard to trace who's behind the move.

This kind of large withdrawal is usually taken as a sign that some major investor is taking assets off exchanges for safekeeping, thereby signaling a bullish outlook for Bitcoin.

However, there's a catch. Some believe that this very wallet may well belong to Binance itself and that the transfers are somehow part of an internal exchange operation rather than a sign of individual activity. For now, that is unknown, since until movement happens on-chain, the intent of the owner remains pretty much a secret.

What is clear, however, is that the whale-sized transfer sent shockwaves through the crypto community.