Whales withdraw 2,000 Bitcoin worth $220M from Binance in 2 hours
Major holders increase self-custody as new wallets drive significant Bitcoin outflows from exchanges during market dips.
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Updated 1:24 p.m. ET
Large Bitcoin holders withdrew around 2,000 Bitcoin worth approximately $220 million from Binance, a prominent cryptocurrency exchange platform, within a two-hour window today, according to Lookonchain.
The withdrawals involved newly created wallets moving the digital assets off the centralized platform, reflecting an ongoing trend toward self-custody among major holders.
Whales have been consistently withdrawing Bitcoin from exchanges like Binance and OKX during price dips as part of accumulation strategies, according to recent on-chain monitoring data.