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VADODARA, January 27, 2026 — A Bitcoin OG executed a massive 148,000 ETH withdrawal from Binance. The latest crypto news reveals a $427 million move over 48 hours. On-chain data from ai_9684xtpa confirms the final 30,000 ETH transaction occurred three hours ago. Market structure suggests a strategic long-term hold.
According to on-chain data provider ai_9684xtpa, the entity '1011short' initiated the withdrawal sequence. The total haul reached 148,000 Ethereum. This represents a significant liquidity grab from a major exchange. The most recent batch of 30,000 ETH moved approximately three hours before this report. Exchange outflows typically signal a reduction in immediate sell-side pressure. Analysts interpret this as accumulation behavior.
Historically, large exchange withdrawals precede major market rallies. The 2020-2021 cycle saw similar patterns. In contrast, the current macro backdrop shows Extreme Fear. The Crypto Fear & Greed Index sits at 20/100. This creates a stark divergence. A whale accumulating amid panic often marks local bottoms. , Ethereum's network fundamentals remain robust despite price action. The upcoming Pectra upgrade, detailed on Ethereum's official roadmap, continues to drive institutional interest in the asset's long-term utility.
Related Developments: This activity occurs alongside other significant market events:
Ethereum currently tests a critical order block. The $2,850 zone represents a major Fair Value Gap (FVG) from last week's liquidation cascade. A daily close above this level would fill the gap. The 200-day moving average provides dynamic support near $2,650. The Relative Strength Index (RSI) on the 4-hour chart shows bullish divergence. This suggests weakening selling momentum. Volume Profile indicates low volume nodes above current price. Consequently, any breakout could face limited immediate resistance.
| Metric | Value | Context |
|---|---|---|
| ETH Withdrawn | 148,000 | From Binance by address 1011short |
| USD Value | $427 Million | At time of transactions |
| Crypto Fear & Greed Index | 20/100 (Extreme Fear) | Current global market sentiment |
| Bitcoin (BTC) Price | $88,472 | 24h change: +2.39% |
| Key ETH Technical Level | $2,850 | Major Fair Value Gap resistance |
This withdrawal matters for liquidity cycles. Removing $427 million in ETH from an exchange reduces immediate supply. It signals high-conviction holding by a seasoned player. In an Extreme Fear environment, this is a contrarian bullish signal. Institutional frameworks often view exchange net outflows as a positive metric. It indicates assets moving from 'hot' to 'cold' storage. This alters the market's structural balance.
"Large-scale exchange withdrawals by identified OGs are a classic on-chain bullish signal. When this occurs against a backdrop of peak fear, as measured by the Crypto Fear & Greed Index, it often precedes a sentiment reversal. The data suggests accumulation, not distribution."
Market structure suggests two primary scenarios based on the $2,850 level.
The 12-month outlook remains tied to macroeconomic liquidity cycles. Historical patterns indicate that accumulation phases during fear often lead to outperformance in the subsequent 12-18 months as sentiment normalizes.

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