Two New Bitcoin Wallets Withdraw $84.2M in BTC From Binance, What’s Happening

Two new Bitcoin wallets recently withdrew large amounts from Binance’s hot wallet. This news comes as Bitcoin (BTC) continues to trade below its all-time high of approximately $111,800, currently priced around $105,503 amid a modest decline of 1.57% in 24 hours and 3.56% over the past week. Meanwhile, significant on-chain movements point to an ongoing trend of Bitcoin moving away from exchanges.  Specifically, recent data from Lookonchain highlights two newly created wallets receiving major withdrawals from Binance’s hot wallet, signaling a potential change in holder behavior. Significant Binance Withdrawals to New Wallets Lookonchain reported that around 09:21:13 UTC, two newly established Bitcoin wallets each withdrew about 400 BTC from Binance’s hot wallet.  https://twitter.com/lookonchain/status/1928430054737928224 These transactions amount to 800 BTC total, equating to around $84.2 million at current prices near $105,616 per BTC.  The wallets , holding 400 BTC each, signify a considerable transfer of funds out of Binance custody. This activity drew attention given the size and timing, as large withdrawals to new wallets often suggest intentions to store BTC privately or prepare for long-term holding. The movement from exchange wallets to new addresses typically indicates reduced selling pressure on the market. It may also reflect large institutional investors or private holders shifting Bitcoin off exchanges to cold storage. This pattern matches recent trends showing lower Bitcoin inflows to exchanges. Declining Exchange Inflows  Notably, IntoTheBlock’s on-chain flow volume data for Bitcoin over the past three months reveals notable fluctuations. However, a distinct downward trend in BTC inflows to exchanges has emerged recently, with a 9.5% drop over the last 24 hours and a 16.99% decline over the past week. This data aligns with the significant withdrawals from Binance, suggesting that holders prefer moving Bitcoin off exchanges rather than depositing it.

Notably, despite this recent decline, the 30-day inflow volume shows a positive change of 9.43%. The overall reduction in inflows in the short term supports the idea that Bitcoin holders might be accumulating or storing coins long term, instead of preparing for quick sales. This behavior corresponds with the movement of large amounts of BTC into new wallets, marking a shift towards holding rather than active trading. Long-Term Holders Not Ready to Sell  Supporting the holder accumulation narrative, further data from reveals that long-term holders (LTHs) have increased their BTC supply significantly between March 3 and May 25, 2025. The LTH supply rose from about 14.35 million BTC to roughly 15.74 million BTC, marking a net gain of over 1.39 million BTC in under three months. This accumulation trend continues despite Bitcoin’s price consolidation near current levels. This trend contrasts with previous market cycles, such as those in 2013, 2017, and 2021, where LTH supply typically fell during bull runs as holders sold for profits. Analysts note that recent brief dips in LTH supply during May 2024 and March 2025 did not reverse the upward trend. These observations suggest that experienced holders are refraining from selling at current price points, potentially reducing the available supply for newer market participants.