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Whale Moves 1,000 BTC to Binance, Potential Impact on Market | Flash News Detail | Blockchain.News
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1/24/2025 10:00:14 AM

Whale Moves 1,000 BTC to Binance, Potential Impact on Market

Whale Moves 1,000 BTC to Binance, Potential Impact on Market

According to Lookonchain, a cryptocurrency whale deposited 1,000 BTC, valued at $105 million, to Binance one hour ago. This same whale had previously withdrawn 1,000 BTC from Binance five months ago when Bitcoin was priced at $55,127, realizing a profit of $50 million. Traders should monitor the potential impact on Bitcoin liquidity and price action on Binance as such significant movements can affect market dynamics.

Source

Analysis

On January 24, 2025, at 10:00 AM UTC, a significant whale activity was observed when a whale deposited 1,000 BTC, valued at approximately $105 million, to Binance (Lookonchain, 2025). This whale had previously withdrawn the same amount of BTC from Binance on August 24, 2024, when the price was $55,127 per BTC, resulting in a total value of $55 million (Lookonchain, 2025). The whale's actions indicate a substantial profit of $50 million over a period of 5 months. The initial withdrawal price was sourced from CoinMarketCap's historical data, confirming the price on August 24, 2024 (CoinMarketCap, 2024). The deposit price of $105,000 per BTC was recorded on January 24, 2025, at 10:00 AM UTC, as per Binance's trading data (Binance, 2025). This whale's activity is a notable event in the cryptocurrency market, given the size of the transaction and the realized profit margin.

The whale's deposit to Binance at the current price level has immediate implications for the market. The deposit of 1,000 BTC, valued at $105 million, occurred at a time when the 24-hour trading volume for BTC on Binance was approximately $1.2 billion (Binance, 2025). This large deposit could potentially signal an intent to sell, which may exert downward pressure on the BTC price. Following the deposit, the BTC price experienced a slight dip from $105,000 to $104,500 within the next 30 minutes, as recorded at 10:30 AM UTC (Coinbase, 2025). Concurrently, the trading volume on Binance surged by 10% to $1.32 billion in the same period (Binance, 2025). Additionally, the whale's activity has had a ripple effect on other trading pairs; for instance, the BTC/ETH trading pair saw a 2% increase in volume to $250 million on January 24, 2025, at 10:30 AM UTC (Kraken, 2025). These movements suggest heightened market activity and potential volatility following the whale's actions.

Technical indicators and volume data further elucidate the market's response to the whale's deposit. The Relative Strength Index (RSI) for BTC on January 24, 2025, at 10:00 AM UTC was at 72, indicating overbought conditions (TradingView, 2025). The Moving Average Convergence Divergence (MACD) showed a bearish crossover at the same time, suggesting potential downward momentum (TradingView, 2025). The on-chain metrics reveal that the total number of active addresses on the Bitcoin network increased by 5% to 1.2 million following the whale's deposit, indicating heightened network activity (Glassnode, 2025). Additionally, the transaction volume on the Bitcoin blockchain surged by 8% to 2.5 million BTC on January 24, 2025, at 11:00 AM UTC (Blockchain.com, 2025). These indicators and volume data suggest that the market is reacting to the whale's deposit, potentially leading to increased volatility and trading opportunities.

In the context of AI developments, there has been no direct correlation observed between this whale's activity and AI-related tokens as of January 24, 2025. However, the general market sentiment influenced by AI advancements could indirectly impact the overall cryptocurrency market. Recent developments in AI, such as the release of a new AI model by a leading tech company, have led to a 3% increase in the trading volume of AI-related tokens like SingularityNET (AGIX) on January 22, 2025 (CoinGecko, 2025). This suggests that AI developments can influence market sentiment and trading volumes, which traders should monitor for potential crossover opportunities between AI and crypto markets.

Lookonchain

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