On July 5th, a significant on-chain transaction was recorded as a whale address moved 567.3 BTC, valued at roughly $61.11 million, from the Binance exchange. This withdrawal occurred at 3 AM, coinciding with the cryptocurrency’s lowest price point of the day. According to data analyst Yu Jin, the average price at which these bitcoins were withdrawn was approximately $107,708. Such large-scale movements often signal strategic repositioning by major investors and can impact market liquidity. Monitoring these transactions provides valuable insights into institutional behavior within the crypto market, aiding traders and analysts in understanding potential market trends without relying on speculative assumptions.
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