Bitcoin Whale Moves $20M to Binance Amid Broader Selling Pressure

A Bitcoin whale moved roughly 300 BTC worth more than $20 million to a Binance deposit address on Tuesday, according to on-chain data. The transfer marks the latest in a series of large holder movements as Bitcoin trades well below last year's highs.

Per Arkham data, the whale’s wallet accumulated just under 513.3 BTC between January and March 2025, during which time Bitcoin traded at an average purchase price of $97,500, according to CoinGecko historical data.

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With Bitcoin currently trading at around $68,300, the transfer represents a potential realized loss of around $15.02 million—though the movement could also indicate an over-the-counter deal, custody rebalancing, or other non-sale activity. The whale retains approximately 200 BTC worth around $13.65 million in their wallet.

Tuesday's transfer follows heightened whale activity in recent months. In November last year, a Bitcoin billionaire dumped their entire $1.3 billion stash after 14 years, while just two months later a Satoshi-era whale moved $180 million in BTC to Coinbase.

Last month, a holder moved 2,100 BTC worth $147.7 million that had remained untouched for over 13 years, while another whale transferred $33 million worth of BTC to Binance during the same period, continuing an unwind of coins acquired in 2013. These movements have coincided with Bitcoin's retreat from its all-time high of $126,080 recorded in October 2025.

Bitcoin currently trades almost 46% below those record levels, facing sustained selling pressure as the cryptocurrency market navigates a broader downturn, with Q1 2026 marking the worst quarterly performance for the cryptocurrency since 2018. The accumulation period for Tuesday's whale—between January and March 2025—coincided with Bitcoin trading around what was then an all-time high, making this holder representative of investors who entered positions during last year's rally.