Bitcoin Whale Sparks Speculation with Dual 800 BTC Deposits to Binance

A big Bitcoin whale has reportedly deposited a huge amount of tokens to Binance more than once. As per the reports, the respective Bitcoin deposits by this whale have paved the way for speculations among the market onlookers and experts. Lookonchain, a popular on-chain analytics provider, has claimed that the whale deposited up to 800 $BTC tokens to the top crypto exchange.

A whale deposited 800 $BTC($54.6M) to #Binance again 5 minutes after the March #CPI inflation was released.

He also deposited 800 $BTC($57.16M) to #Binance yesterday, after that the price of $BTC dropped by ~4%.

And he currently holds 13,665 $BTC($928.6M).

Address:… pic.twitter.com/SE9BVYT0M3

— Lookonchain (@lookonchain) April 10, 2024

Whale Makes 2 Deposits of 800 BTC Coins to Binance, Raising Speculations

He reportedly did this a few minutes following Binance released its CPI inflation statistics concerning the previous month. The respective figure equaled nearly $54.6 million at that time. This was not the first time as the whale had already deposited certaincoins before this event. Following this deposit, the whale considered depositing more tokens.

According to the blockchain analytics platform, the whale again deposited up to 800 BTC coins. This time, the valuation of the respective figure was nearly $57.16 million. The latter deposit took place following a significant drop in the price of the biggest crypto. The respective developments have been quite surprising for the analysts. In addition to this, the community members have several speculations regarding this.

US CPI Statistics Go Beyond Expectations

On the other hand, the US CPI-related statistics are beyond expectations. The actual year-on-year US CPI stands at 3.5% while the previous spot was 3.2%. This may have a vital role in the above-mentioned deposits. At the moment, the respective whale holds nearly 13,665 Bitcoin (almost $928.6 million), as per Lookonchain.

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