Whales Ramp Up Bitcoin Accumulation: $51.59 Million Withdrawn from Binance Amid Market Dip

According to LookIntoChain insights reported on November 12th, significant market fluctuations have not deterred whales from accumulating Bitcoin. A notable transaction involving a wallet address “bc1q…67rc” revealed a recent withdrawal of 600 BTC from Binance, amounting to approximately $51.59 million. This transaction is part of a larger pattern; since October 31st, the same whale has pulled out a total of 1,100 BTC from Binance, equating to around $95 million. This strategic accumulation has resulted in unrealized gains of approximately $8 million. The activity highlights the ongoing interest in Bitcoin despite current market volatility, suggesting that seasoned investors are positioning themselves favorably as they capitalize on price corrections. Such developments are crucial for market observers and analysts tracking the behavior of major players in the cryptocurrency landscape.