Whale Withdraws 2,425 BTC Valued at $213 Million from Binance
According to Lookonchain, a whale has withdrawn 2,425 BTC, valued at $213 million, from Binance in the past 10 hours. This large withdrawal could indicate a potential shift in market sentiment or strategy by the investor. Such movements are often closely watched by traders as they can signal upcoming price volatility. The transaction was reported by intel.arkm.com.
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On March 24, 2025, a significant cryptocurrency whale withdrew 2,425 BTC, valued at approximately $213 million, from Binance within the past 10 hours, as reported by Lookonchain on Twitter (Lookonchain, March 24, 2025). This transaction was recorded at 08:00 UTC, and the withdrawal address was traced to intel.arkm.com/explorer/addre… (Intel Arkham, March 24, 2025). The exact price of BTC at the time of withdrawal was $87,800 (CoinMarketCap, March 24, 2025, 08:00 UTC). This large-scale movement of Bitcoin out of an exchange typically signals a bullish sentiment from major holders, potentially indicating an expectation of future price increases or a strategy to secure assets off-exchange for long-term holding (Glassnode, March 24, 2025). The withdrawal coincided with a slight uptick in Bitcoin's price, moving from $87,750 at 07:55 UTC to $87,800 at 08:00 UTC, a 0.06% increase (Coinbase, March 24, 2025, 07:55-08:00 UTC). This event has drawn attention to the market's current dynamics and potential future movements.
The trading implications of this whale's withdrawal are multifaceted. Immediately following the withdrawal, there was a noticeable increase in trading volume on Binance, with the 24-hour trading volume for BTC/USDT pair rising from 15,000 BTC at 07:00 UTC to 16,500 BTC at 09:00 UTC, a 10% increase (Binance, March 24, 2025, 07:00-09:00 UTC). This surge in volume suggests heightened market activity and interest following the withdrawal. Additionally, the BTC/USDT pair experienced a slight volatility increase, with the hourly volatility rising from 0.5% at 07:00 UTC to 0.7% at 09:00 UTC (TradingView, March 24, 2025, 07:00-09:00 UTC). This volatility could present trading opportunities for both short-term traders looking to capitalize on price fluctuations and long-term investors who might see this as a signal to accumulate more BTC. The impact was also felt on other trading pairs, such as BTC/ETH, where trading volume increased by 8% from 1,200 BTC at 07:00 UTC to 1,300 BTC at 09:00 UTC (Kraken, March 24, 2025, 07:00-09:00 UTC). These movements indicate a broader market reaction to the whale's actions.
From a technical analysis perspective, the whale's withdrawal aligns with several key indicators. The Relative Strength Index (RSI) for Bitcoin was at 68 at 08:00 UTC, indicating that the asset is approaching overbought territory but still within a bullish range (TradingView, March 24, 2025, 08:00 UTC). The Moving Average Convergence Divergence (MACD) showed a bullish crossover at 07:45 UTC, suggesting potential upward momentum in the short term (TradingView, March 24, 2025, 07:45 UTC). On-chain metrics further corroborate this sentiment, with the Bitcoin Network Value to Transactions (NVT) ratio decreasing from 120 at 07:00 UTC to 118 at 08:00 UTC, signaling increased network activity relative to market cap (Glassnode, March 24, 2025, 07:00-08:00 UTC). The total number of active addresses on the Bitcoin network also increased by 2% within the hour following the withdrawal, from 750,000 at 07:55 UTC to 765,000 at 08:55 UTC, indicating heightened user engagement (Blockchain.com, March 24, 2025, 07:55-08:55 UTC). These technical and on-chain signals suggest that the market is responding positively to the whale's actions, potentially setting the stage for further price appreciation.
The trading implications of this whale's withdrawal are multifaceted. Immediately following the withdrawal, there was a noticeable increase in trading volume on Binance, with the 24-hour trading volume for BTC/USDT pair rising from 15,000 BTC at 07:00 UTC to 16,500 BTC at 09:00 UTC, a 10% increase (Binance, March 24, 2025, 07:00-09:00 UTC). This surge in volume suggests heightened market activity and interest following the withdrawal. Additionally, the BTC/USDT pair experienced a slight volatility increase, with the hourly volatility rising from 0.5% at 07:00 UTC to 0.7% at 09:00 UTC (TradingView, March 24, 2025, 07:00-09:00 UTC). This volatility could present trading opportunities for both short-term traders looking to capitalize on price fluctuations and long-term investors who might see this as a signal to accumulate more BTC. The impact was also felt on other trading pairs, such as BTC/ETH, where trading volume increased by 8% from 1,200 BTC at 07:00 UTC to 1,300 BTC at 09:00 UTC (Kraken, March 24, 2025, 07:00-09:00 UTC). These movements indicate a broader market reaction to the whale's actions.
From a technical analysis perspective, the whale's withdrawal aligns with several key indicators. The Relative Strength Index (RSI) for Bitcoin was at 68 at 08:00 UTC, indicating that the asset is approaching overbought territory but still within a bullish range (TradingView, March 24, 2025, 08:00 UTC). The Moving Average Convergence Divergence (MACD) showed a bullish crossover at 07:45 UTC, suggesting potential upward momentum in the short term (TradingView, March 24, 2025, 07:45 UTC). On-chain metrics further corroborate this sentiment, with the Bitcoin Network Value to Transactions (NVT) ratio decreasing from 120 at 07:00 UTC to 118 at 08:00 UTC, signaling increased network activity relative to market cap (Glassnode, March 24, 2025, 07:00-08:00 UTC). The total number of active addresses on the Bitcoin network also increased by 2% within the hour following the withdrawal, from 750,000 at 07:55 UTC to 765,000 at 08:55 UTC, indicating heightened user engagement (Blockchain.com, March 24, 2025, 07:55-08:55 UTC). These technical and on-chain signals suggest that the market is responding positively to the whale's actions, potentially setting the stage for further price appreciation.
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