Major BTC withdrawals from Binance wallets precede corrections

Major BTC withdrawals from Binance wallets precede corrections

The search and analysis service for transactions on the BTC STIPS | Oculus network found a connection between major BTC movements on the Binance wallets and bitcoin exchange rate corrections.

Today, there is another correction in the Bitcoin market: the rate of the first cryptocurrency has dropped by $ 1,000 in an hour and is now “rolling back” upwards. Experts of the analytical service STIPS | Oculus discovered the relationship between bitcoin corrections and the movement of large sums on the purses of the Binance exchange.

Shortly before the fall, today there was a large incoming transaction on one of the main cold wallets of the Binance exchange (34xp4vRoCGJym3xR7yCVPFHoCNxv4Twseo). Its amount was 90,530 BTC – about $ 1.17 billion. Transaction hash:

74fb65a24350ef3b9380e8232e734416224cd6a2f12cacb66eee9e176b9e337c.

Remarkably, the last time there were two such large transactions to this address: in October and November 2018. Shortly thereafter, the price of the main cryptocurrency fell by 40% and entered the last stage of the bear market, which lasted more than a year.

It is not the first time that bitcoin movements on this Binance wallet precede rate corrections, but more often they are associated with outgoing transactions. In total, during the existence of the wallet, 147 outgoing transactions were made (for the period from 10/18/2018 to 07/05/2019). At the same time, the majority of outgoing transactions (110 units) were completed immediately before the drop in TFS by 10% -50%.

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For example, a series of transactions dated November 14, 2018 preceded a 50% fall in the price of the first cryptocurrency. Further transactions dated 05.15.2019 and 05.29.2019 preceded the fall of BTC by 14% each.

There were no outgoing transactions from this address for more than a month, and an amount accumulated on it, which is significant even for Binance – 158 228.35 BTC. Perhaps new outgoing transactions again predict a bitcoin drop?

You can study the history of this wallet or other interesting addresses in detail at app.stipsoculus.com


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