Whale Address Deposits 400 BTC into Binance Amid $6.25B BTC Sell-Off Since April 2024

According to data from LookIntoChain, a significant whale transaction was recorded on June 22nd, with the address beginning 12d1e4 transferring 400 BTC to Binance, valued at roughly $40.59 million. This movement highlights ongoing activity from a major market participant who has been systematically offloading Bitcoin since April 3, 2024. Over this period, the whale has liquidated approximately 6,900 BTC, equating to an estimated $6.2559 billion, while retaining a substantial holding of 3,100 BTC, currently worth around $3.184 billion. Such large-scale transactions underscore the importance of monitoring whale behavior for insights into market liquidity and potential price dynamics within the cryptocurrency ecosystem.

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