Fenbushi Capital Withdraws 10,000 ETH Worth $27 Million from Binance to Bybit Hot Wallet

On February 23, COINOTAG reported a significant **transaction** involving Fenbushi Capital, as revealed by Arkham monitoring tools. Between 16:28 and 18:22 UTC+8 on February 22, a suspected **Bybit deposit address** executed a withdrawal of 10,000 ETH, amounting to approximately **$27.02 million**. This substantial transfer originated from **Binance** and other affiliated addresses, with the entire sum subsequently directed to the **Bybit hot wallet**. The withdrawal has drawn attention within the crypto community, as it underscores the liquidity movements between major exchanges and highlights the ongoing trends in institutional investment. Investors and analysts are keenly observing such movements, as they may indicate broader market dynamics and liquidity patterns that can influence future **crypto asset valuations**. Monitoring tools like those provided by Arkham continue to play a critical role in tracking significant transactions across the blockchain ecosystem.