Bitcoin Whale Withdraws $284 Million from Binance Amid Price Surge

A significant Bitcoin whale has withdrawn 3,238 BTC, valued at $284 million, from the Binance exchange. This transaction occurred at an average price of $87,800 per BTC.

Previously, during a market rally in February, the same whale sold 12,287 BTC for $1.16 billion at an average price of $94,300. After accumulating BTC again when prices hovered around $84,000, the whale's total holdings rose to 15,986 BTC, worth approximately $1.39 billion.

Dormant Bitcoin Whale Wakes Up After 8 Years

A dormant Bitcoin whale moved over 3,000 BTC, worth $250 million, on March 22 after holding since late 2016.

Institutional interest is increasing as inflows into spot Bitcoin ETFs grow. BlackRock's iShares Bitcoin Trust (IBIT) ended a five-week outflow streak with a net inflow of $744.4 million. BlackRock acquired an additional 4,054 BTC across 15 transactions, raising its total holdings to 573,878 BTC, valued at over $50 billion.

BTC Price Surge to $90K Soon?

Bitcoin is targeting a breakout above $87,000 following a surge past $84,000. The weekly candle closed above the Kijun line, indicating bullish momentum. Analysts are watching the next target at $91,400, where further upward movement may occur.