Bitcoin Whales Continue to Sell, Potentially Offloading 600 Billion Yen Worth of BTC in Recent Days

As Bitcoin (BTC) attempted to recover to the 70,000 dollar mark last week, on-chain data has confirmed significant fund movements by large investors.

Whale investor Garrett Jin deposited a total of 8.9 billion dollars (approximately 1,330 billion yen) worth of BTC and Ethereum (ETH) to Binance last weekend.

According to the analysis platform Lookonchain, Mr. Jin deposited 5,000 BTC on the 14th. The following day, he moved an enormous amount of ETH, exceeding 260,000 ETH (worth about 80 billion yen), to the exchange. These large deposits at critical price points suggest a strategy to unwind positions...