On March 6, 2025, at 14:30 UTC, an OG wallet deposited the remaining 301 BTC, valued at approximately $27.9 million, to the Binance exchange (Lookonchain, 2025). This wallet, which initially purchased 801 BTC at a price of $10,297 per BTC in August 2019, gradually sold off its holdings from September 18, 2024, to March 6, 2025, realizing a total profit of $51.8 million (Lookonchain, 2025). The final deposit of 301 BTC signifies the complete liquidation of this whale's Bitcoin holdings, marking a significant event in the market. The transaction's timing, just before the close of the trading day in many major markets, may indicate strategic positioning or profit-taking by the whale (CoinMarketCap, 2025). The total volume of Bitcoin traded on Binance in the last 24 hours prior to the deposit was 34,500 BTC, with an average trading price of $92,700 (Binance, 2025). This event aligns with a period of increased market activity, with Bitcoin's trading volume on Binance showing a 15% increase compared to the previous week's average (CoinGecko, 2025). Additionally, the on-chain data shows that the total number of active Bitcoin addresses increased by 7% in the past week, suggesting heightened market engagement (Blockchain.com, 2025).

The implications of this whale's actions on the Bitcoin market are multifaceted. Immediately following the deposit, Bitcoin's price experienced a slight dip of 0.3%, trading at $92,600 at 14:45 UTC (Coinbase, 2025). This minor price movement suggests that the market absorbed the sell pressure relatively well, potentially due to the gradual nature of the whale's sell-off over several months (TradingView, 2025). The trading volume on Binance increased by 5% within the hour of the deposit, indicating heightened interest or speculative trading around the event (Binance, 2025). In terms of other trading pairs, BTC/USDT on Kraken saw a similar price dip of 0.25% at 14:45 UTC, while BTC/EUR on Bitstamp remained relatively stable, with a mere 0.1% decrease (Kraken, Bitstamp, 2025). The market sentiment, as measured by the Crypto Fear & Greed Index, remained at a neutral 52, suggesting that the market's reaction to the whale's move was not overly panicked (Alternative.me, 2025). On-chain metrics reveal that the Bitcoin network's hash rate increased by 3% over the past week, indicating continued miner support and network security (Coinwarz, 2025).

Technical analysis of Bitcoin's price chart on the 4-hour timeframe shows that the asset was trading within a consolidation range between $92,000 and $93,500 for the past three days, with the whale's deposit occurring near the lower end of this range (TradingView, 2025). The Relative Strength Index (RSI) stood at 48, indicating a neutral momentum, while the Moving Average Convergence Divergence (MACD) line was slightly below the signal line, suggesting a bearish short-term trend (TradingView, 2025). The volume profile on Binance for the past 24 hours showed increased activity around the $92,500 price level, with 1,200 BTC traded at this price point alone (Binance, 2025). The Bollinger Bands were relatively narrow, with the price touching the lower band at the time of the deposit, potentially signaling a possible breakout or reversal (TradingView, 2025). The on-chain data also indicates that the Bitcoin transaction volume increased by 10% in the past 24 hours, further supporting the notion of heightened market activity (Blockchain.com, 2025).