Wintermute Transfers $98.7M in Bitcoin to Binance

Crypto market maker Wintermute has transferred $98.7 million in Bitcoin to Binance over the past 18 hours, according to on-chain data from Onchain Lens.

The transfers, executed in eight separate transactions, are collectively valued at approximately $98.68 million, with the most recent transaction recorded about 30 minutes ago involving 90.1 BTC worth roughly $6.97 million.

Large transfers of Bitcoin from a market maker to an exchange are typically interpreted by traders as a potential precursor to selling, but for Wintermute, such transfers can also be part of routine liquidity management or arbitrage strategies.

As one of the most active over-the-counter (OTC) trading desks and liquidity providers in the crypto space, Wintermute's wallet movements are closely monitored by on-chain analysts for clues about institutional sentiment.