$800M Bitcoin Whale Selling BTC

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A Bitcoin whale, 3Jfjv, holding over $800M worth in BTC has transferred 30 BTC or $2.8M worth to one of their other addresses, bc1q5. This address has been used in the past for transferring BTC to Binance via the deposit address, 1DApj, with prior transactions involving 20-80 BTC.

On-chain analysts closely monitor transactions from such significant wallet addresses. While $2.8M is a relatively small portion of the whale's $800M total, the movement itself is notable. Using intermediary addresses that are known to have a history of sending funds to a major exchange like Binance is often seen as a preparatory step. It can suggest that the holder is increasing liquidity, possibly in readiness for a future sale.

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Shortly after the first transfer out, the whale also sent 20 BTC worth $1.93M to another frequently used address, 16eV8. This address also frequently deposits in Binance, using the deposit address, 1JYBy. True to prior transactions, the 20 BTC was sent out to the same Binance address just 3 hours later.

This second, similar transfer further solidifies the pattern of behavior. The rapid movement of the 20 BTC to a known Binance deposit address just hours later confirms the connection to the exchange. This type of systematic, small-batch transfer from a long-term holding address to an exchange is a classic indicator that analysts watch for. Such movements increase the supply of BTC available on the market, which can be a bearish signal if it precedes a large sell-off.