- Bitcoin whale moves $415M+ BTC — 949.7 BTC ($77.55M) deposited to Binance and Deribit, flagged as likely selling by OnchainLens
- Additional 4,150 BTC (~$337.7M) transferred to whale's own wallet (1L6HpaTyCRS33oiBKRUe1fsKrzDPsJALcg), which has prior history of routing funds to exchanges
- BTC trading at $81,646 (-0.69% 24h) — $80,000 psychological level is the key support to watch if distribution is confirmed
Bitcoin is trading at $81,646, down 0.69% over the past 24 hours, with a market cap of $1.64 trillion and $28.58 billion in daily volume. The asset has been consolidating near recent levels, and this whale movement arrives at a critical juncture for short-term price structure.
On-chain monitoring platform @OnchainLens flagged a single Bitcoin whale, wallet address 1L6HpaTyCRS33oiBKRUe1fsKrzDPsJALcg, executing a two-part movement totaling more than $415 million in BTC. The first leg: 949.7 BTC ($77.55M) was deposited directly to Binance and Deribit — both active trading venues with deep spot and derivatives liquidity. The second leg: an additional 4,150 BTC (~$337.7M) was transferred to what OnchainLens identifies as the whale’s own self-custody wallet — a wallet that has a prior documented history of routing funds to exchanges. The flag was posted at 07:22 GMT on October 23, 2026.
On-chain analysts interpret the 949.7 BTC deposit to Binance and Deribit as a near-term sell signal. Exchange inflows of this magnitude from a single identified wallet — particularly to a derivatives platform like Deribit — typically precede either spot liquidation or the writing of covered calls and put-selling activity. The additional 4,150 BTC parked in the whale’s intermediate self-custody wallet carries conditional weight: because that same wallet has previously routed funds to exchanges, OnchainLens classifies the full $415M+ position as “likely selling.” For context on how large holders have been behaving recently, Bitcoin long-term holder net position change had been tracking +1.27M BTC — but the pace of accumulation has been slowing, making whale distribution signals more relevant than they were earlier in the cycle. The level to watch on the downside: sustained selling pressure of this scale, if executed across spot markets, could test Bitcoin’s ability to hold the $80,000 psychological support zone — a level that has served as a key reference point in recent sessions.
The immediate question is whether the 4,150 BTC in the intermediate wallet moves to an exchange in the hours following this alert. If wallet 1L6HpaTyCRS33oiBKRUe1fsKrzDPsJALcg initiates a second exchange deposit, it would confirm the full $415M+ as active distribution — not repositioning. Conversely, if that wallet remains dormant, the immediate sell pressure is capped at the 949.7 BTC already on-exchange. Traders tracking this event should monitor Binance’s BTC spot order book depth and Deribit’s open interest for any sudden shifts that would correlate with this wallet’s activity. Prior events of comparable scale — such as the 121.33 BTC forced liquidation that accompanied a prior market drop — show how single-wallet events can amplify short-term volatility when market depth is thin.
Source: x.comFrequently Asked Questions
Why is the 4,150 BTC wallet transfer considered a sell signal if it went to self-custody?
What is Deribit and why does a deposit there specifically suggest selling intent?
What price level should traders watch if this whale proceeds with full distribution?
Source: OnchainLens · Published by CoinsProbe Markets Desk
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
