A major Bitcoin whale has triggered fresh market buzz after moving their entire stash worth over $74 million to Binance, marking a dramatic exit from a position opened just eight months ago at peak prices.
The move locks in a roughly $56 million loss, offering a stark reminder of crypto’s volatility and raising questions about whether more deep-pocketed holders could be preparing to sell.
$74M Bitcoin Sent To Binance
On-chain data tracked by Arkham Intelligence shows that the Bitcoin whale sent 1,102 BTC, currently worth $74.21 million, to the leading crypto exchange Binance, according to Lookonchain.
While it’s unconfirmed that the deposits were intended for sales, depositing coins to exchanges typically implies a holder is offloading assets, while withdrawals may indicate an intent to buy.
The coins were purchased roughly eight months ago, around July 2025, when Bitcoin was trading at about $117,770. The whale accumulated the flagship crypto, expecting further upside, as prices had surged steadily for four consecutive months from April through June 2025. After a brief consolidation, the uptrend resumed but failed to deliver a sharp breakout. Despite witnessing Bitcoin surge to new all-time highs above $126,000 in October 2025, the whale chose to hold rather than take profits.
 
Unfortunately for the whale, Bitcoin topped out in October and then entered a downtrend, leaving the timing of the move on the wrong side of the market. In what appears to be a capitulation-style exit, the whale sold his entire holdings at a steep $55.6 million loss, or roughly 43%.
Nearly Half Of All Bitcoin Is Now Sitting At A Loss
The BTC price has been hovering below the $70,000 mark, down roughly 5.4% over the past week amid potential escalation in the Middle East conflict and macroeconomic uncertainty.
As such, about 9.4 million BTC, representing nearly 47% of the circulating supply, are now underwater, based on a report from CEX.io Research. The report further notes that over 30% of Bitcoin held by long-term investors is currently at a loss, marking the highest level since 2023.
“Long-term holders are now selling at their deepest losses in three years, and the speed of the reversal indicates a sharp deterioration in confidence,” the report reads.
According to CEX.io Research, changing market conditions have left Bitcoin in a fragile position. The firm’s Bitcoin Impact Index—which tracks holder behavior and selling pressure—has moved into “high impact” territory, signaling elevated stress among both retail and institutional investors.
“This kind of divergence between price action and on-chain conviction has historically been a warning sign,” the firm wrote. “For instance, similar moves occurred in mid-2018 and mid-2022 before price drops by over 25%.”
A further 25% decline would drag Bitcoin below $50,000 for the first time since February 2024. As of press time, the world’s largest crypto has retreated 47% from its all-time peak.
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