Whales withdraw 2,000 Bitcoin worth $220M from Binance in 2 hours

Major holders increase self-custody as new wallets drive significant Bitcoin outflows from exchanges during market dips.

Key Takeaways

• Whales withdrew 2,000 Bitcoin (worth $220 million) from Binance in under two hours.
• Newly created wallets are responsible for these large withdrawals, showing a trend toward increased self-custody among big holders.

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Large Bitcoin holders withdrew around 2,000 Bitcoin worth approximately $220 million from Binance, a prominent cryptocurrency exchange platform, within a two-hour window today, according to Lookonchain.

The withdrawals involved newly created wallets moving the digital assets off the centralized platform, reflecting an ongoing trend toward self-custody among major holders.

Whales have been consistently withdrawing Bitcoin from exchanges like Binance and OKX during price dips as part of accumulation strategies, according to recent on-chain monitoring data.

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