Important points
- Whales withdrew 2,000 Bitcoins (worth $220 million) from Binance within two hours.
- Newly created wallets are responsible for these large withdrawals, and we are seeing an increase in self-custody among large holders.
According to Lookonchain, large Bitcoin holders withdrew approximately 2,000 Bitcoins worth approximately $220 million from Binance, a prominent crypto exchange platform, within two hours today.
This withdrawal involved newly created wallets moving digital assets away from centralized platforms, reflecting the continuing trend of self-custody among major holders.
Recent on-chain monitoring data shows that whales consistently withdraw Bitcoin from exchanges such as Binance and OKX during price declines as part of their accumulation strategy.
