Whale linked to $230M liquidation withdraws 55M USDC from Binance after large BTC deposits
On Feb. 7, on-chain analyst Ai reported that a large trader dubbed the “$230M liquidation 1011 whale” withdrew 55 million USDC from Binance minutes earlier. The same entity deposited roughly 5,000 BTC (about $350M) to Binance over the prior six hours and is suspected to have completed sales. Key figures: 55,000,000 USDC withdrawn; ~5,000 BTC (~$350M) deposited; previously linked to a $230M liquidation. The activity suggests rapid on-exchange movement of stablecoins and large BTC flows which may precede or follow major sell orders. Primary keywords: USDC, Binance, BTC, whale withdrawal, liquidation. Secondary/semantic keywords: large deposit, on-chain analyst, exchange outflow, market impact. Traders should note the potential for short-term price pressure on BTC and elevated volatility due to concentrated capital movement; monitor order books, exchange reserves, and stablecoin flows for confirmation.
Bearish
Large on-chain transfers and exchange deposits by a single whale—especially after being linked to a prior $230M liquidation—are commonly associated with significant sell pressure. The reported 5,000 BTC (≈$350M) deposited to Binance and concurrent withdrawal of 55M USDC imply the whale was preparing or executing large trades. If those BTC were sold, supply on exchanges increases, which can push prices down in the short term and raise volatility. Historically, concentrated whale inflows to exchanges have preceded price drops (for example, sizable BTC deposits before 2018/2019 drawdowns or before flash crashes). The 55M USDC withdrawal could represent proceeds moving to cold storage or redistribution; however, if later redeployed on-exchange, it may fund further selling. Overall impact: near-term bearish due to likely increased sell-side liquidity and market anxiety; medium-term effect depends on whether sales continue or the whale withdraws funds off-exchange. Traders should watch exchange order books, realized exchange balances, stablecoin flows, and on-chain sale indicators to time entries or hedges.