A Bitcoin whale moved over $20 million worth of BTC to an exchange platform, and the market may see volatility in the short term

Gate News, a Bitcoin whale recently moved Bitcoin worth more than $20 million to a major cryptocurrency exchange platform, drawing market attention. According to Arkham Intelligence data, the whale address “bc1q…kp4n” deposited about 300 Bitcoins to the platform on Tuesday; the wallet still holds about 200 Bitcoins, with a total value of roughly $13.75 million.

Per analysis by The Block, the wallet had cumulatively held about 513 Bitcoins between January and March 2025, when their total value was about $50 million, and the average purchase price was $97,541 per coin. Currently, the Bitcoin trading price is about $68,692. If the whale plans to sell, it would face a clear loss. While the transfer motive is still unclear, such large movements are often viewed as potential sell signals.

In recent markets, similar whale transactions have been happening frequently. Last month, a Bitcoin wallet transferred 2,100 Bitcoins (worth $147.7 million), which had been unused for more than 13 years; at the same time, another whale moved Bitcoins worth $33 million into a major cryptocurrency exchange platform, indicating that large holders are actively reallocating funds.

Bitcoin is down slightly 0.6% over the past 24 hours, and the trading price remains around $68,692, down about 45% from the historical high of $124,900 in October 2025. This price dynamic, combined with whale activity, has made the market pay close attention to Bitcoin’s near-term outlook. Analysts noted that whale transfer behavior could trigger short-term volatility, while also reflecting large holders’ cautious stance toward the current market price.

As Bitcoin liquidity increases and whale transactions become more frequent, investors should closely monitor on-chain data and market trends to assess potential price impacts and sell-off risks.