Summary
- A whale investor known as a “Bitcoin OG” said it deposited 5,000 BTC to Binance after bitcoin broke above $70,000.
- The 5,000 BTC is worth about $350 million at current prices.
- On-chain data generally views such exchange deposits as actions intended for selling.
A Bitcoin (BTC) whale that rose to prominence during the Oct. 11 liquidation event has deposited a large amount of bitcoin to an exchange.
According to Onchain Lens on the 14th (Korea time), the whale investor known as a Bitcoin OG deposited 5,000 BTC to Binance about 10 minutes ago. This whale previously earned the nickname “Insider” after accurately predicting the bitcoin price during the Oct. 11 liquidation.
The bitcoin deposited by the whale is worth about $350 million at current prices.
Typically, deposits to exchanges are viewed as a move to sell.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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