How a Major Market Maker Quietly Sold 1,213 BTC on Binance During New Year’s Eve
On New Year’s Eve as global crypto markets thinned and traders took time off, on-chain data showed a major market maker moved a massive 1,213 Bitcoin (about $107 million) onto Binance a transfer that many onlookers interpreted as a stealth sell into weak liquidity and one of the largest such flows of the holiday period. The blockchain records, which track custody transfers rather than trading intentions, confirmed that over Dec. 31, 2025 the firm sent far more Bitcoin to Binance than it withdrew, concentrating the deposits near intraday price lows when order books were especially light and trades could impact price sharply. While some narratives suggested the firm was later urgently buying back BTC ahead of early January macro catalysts, the data supports the initial “dump into thin books” picture and highlights how a single big flow in a quiet market can create outsized ripples for price and sentiment.
