Whale/Institution 3G98j just deposited 1,800 BTC ($114M) to Binance at $63,333:

• transaction: af17c220f4f9de4ada454e66fc9a8bdaf40cbf017da45220e5e6fa1b834423df
• address: 3G98jSULfhrES1J9HKfZdDjXx1sTNvHkhN

Notably, in the past 2 weeks, the whale:

• withdrew 6,725 BTC ($437M) from Binance and OKX at an average price of $65,008 (estimated cost: $437M) from June 19 to 21 (the first BTC accumulation wave after 1.5 years);
• might have become bearish and decided to transfer 3,481 BTC to Binance at an average price of $62,333 ($217M) (-4.11%) in the past 5 days, as the BTC price declined.

However, in the further past, the whale allegedly used to make around $1B by trading BTC between 2022 and 2024:

• accumulated 41K BTC at an average price of only $19K ($794M) in the 2022 bear market;
• then unloaded 37K BTC ($1.74B) at an average price of $46.8K in the 2023 and 2024 bull markets;

Currently, the whale still holds 7,868 BTC ($496M).

The BTC price started declining after the whale unloaded BTC.

Fig 1. Whale/Institution 3G98j's recent BTC activities and current BTC holdings.