Matrixport, a leading crypto financial services firm, has withdrawn a massive $94.7 million worth of Bitcoin from Binance, sparking fresh discussions around institutional custody trends, exchange liquidity, and broader market sentiment.
The sizable transaction comes amid heightened attention on on-chain movements by major crypto players, often seen as early indicators of strategic shifts.
Matrixport Moves 1,090 BTC From Binance
Data from Onchain Lens has revealed that Matrixport transferred 1,090 BTC, worth approximately $94.7 million, from Binance to a custodial wallet. The on-chain sleuth revealed this information in an X post on December 24, 2025, highlighting a screenshot from Arkham Intelligence that shows the transfer was completed in a single transaction.
Interestingly, such large-scale withdrawals are often interpreted as a move toward self-custody, reflecting a broader institutional preference for reducing counterparty risk on centralized exchanges. Since the collapse of several high-profile crypto firms in recent years, institutional players have increasingly prioritized secure storage solutions.
Meanwhile, Matrixport’s decision to move such a huge amount of BTC off Binance could also indicate internal portfolio rebalancing. Regardless, Matrixport has yet to issue an official statement regarding the transaction.
Impact on Exchange Liquidity and Market Sentiment
Meanwhile, large Bitcoin withdrawals from exchanges typically reduce the available supply for immediate trading, which can influence short-term liquidity conditions.
Binance, as the world’s largest crypto exchange by volume, regularly sees significant inflows and outflows. However, withdrawals approaching $100 million still stand out and tend to attract market attention.
Historically, sustained net outflows from exchanges have been associated with accumulation phases, where investors move assets into cold storage rather than keeping them readily available for sale.
However, crypto market expert Ted Pillows, in an X post, suggested that the firm could also be buying the dip as the BTC price remains bound in consolidation and Bitcoin ETF products suffer heavy outflows.
BTC Price Action Remains Resilient
In the meantime, Bitcoin’s price action has remained relatively stable, suggesting the market has largely absorbed the news without immediate volatility. BTC continues to trade within a key consolidation range, with buyers defending major support levels while facing resistance near recent highs.
However, market expert Michael Van de Poppe has, in an X post, speculated that BTC could see an upward move toward $90,000 next week, which could lead to a crucial breakout upwards.
Furthermore, he also noted that Bitcoin bulls will need to consistently hold the key support zone in the $86,000 region to sustain this bullish thesis. Meanwhile, according to asset tracker CoinMarketCap, Bitcoin currently trades around the $87,000 level, indicating that the bulls are still holding strong.
The CoinRemark Team
