PANews reported on June 20 that according to monitoring by on-chain analyst Ember, a whale/institutional address withdrew 6,570 BTC (about US$427 million) from Binance and OKX.

This whale/institution had previously withdrawn over 38,000 BTC from Binance and OKX at the market bottom in October-December 2022 at around $18,500.

Then, between March 2023 and the beginning of this month, about 35,200 BTC were transferred to Binance at an average price of about $45,800. The profit may exceed $962 million.