BIT-linked wallet sends another 1,000 BTC
Bitcoin remained around the $81,000 level on Saturday as a wallet associated with BIT, formerly known as Matrixport, transferred another 1,000 BTC worth approximately $81.06 million to Binance.
The transfer was reported by onchain analytics platform Lookonchain, which identified the address beginning with “bc1qsz” as linked to BIT. The latest transaction represents the wallet's second large Bitcoin deposit to Binance this week. View the BIT-linked wallet on Arkham
The movement does not by itself establish that the Bitcoin will be sold. Coins transferred to an exchange can potentially be used for trading, custody, liquidity, collateral or other purposes. Therefore, the transaction is best viewed as an observable onchain flow rather than proof of a planned market sale.
The wallet has moved 2,400 BTC this week
The latest 1,000 BTC deposit follows a larger transaction recorded on September 15, when the same BIT-linked address deposited 1,400 BTC, worth about $107.8 million at the time, into Binance.
Lookonchain also reported that the address withdrew 10,000 ETH, worth approximately $24.67 million, from Binance during that September 15 activity. Combined with Saturday's transaction, the two Bitcoin deposits amount to 2,400 BTC, with a reported value of roughly $188.86 million based on the values attached to each transfer.
The address can be monitored publicly through blockchain explorers, allowing market participants to track whether additional Bitcoin is transferred to Binance or moved elsewhere. The blockchain data itself does not reveal the ultimate purpose behind each transaction.
Matrixport now operates as BIT
The company behind the wallet attribution is now branded BIT. Matrixport officially announced its rebrand on March 20, 2026, saying it would operate under the BIT name while keeping its existing customer accounts, products, services, legal entities and contractual arrangements unchanged.
According to BIT's official company information, the business was founded in 2019 and is headquartered in Singapore. The company says it provides services spanning trading, custody, asset and wealth management, liquidity and financing, and tokenized real-world assets.
BIT also says it manages more than $6 billion in assets and facilitates more than $7 billion in monthly trading volume. These are company-reported figures rather than independently verified measurements. BIT's official company profile
Bitcoin is testing an important price area
The transfers arrive after a sharp recovery in Bitcoin's price. BTC moved from the mid-$76,000 range to above $81,000, while roughly $183 million in short positions were liquidated within one hour, according to market reports.
The move has placed Bitcoin near a resistance area watched by market analysts. CryptoQuant previously identified $81,700 as an important resistance level, with additional resistance around $83,600 and $88,700 in its analysis.
More recent market analysis has also pointed to a broader $83,000-$86,000 area where potential short liquidations have accumulated. These levels are market-analysis estimates and can change as price and positioning develop.
ETF inflows provide another major flow to watch
The BIT-linked Bitcoin transfers are occurring alongside renewed demand from U.S. spot Bitcoin ETFs.
On September 18, U.S. spot Bitcoin ETFs recorded approximately $433 million in net inflows. Fidelity's FBTC accounted for about $310.72 million, while BlackRock's IBIT recorded approximately $108 million. Together, the two funds represented roughly 97% of the day's reported inflows.
The comparison is important because the ETF inflows were larger than the value of Saturday's 1,000 BTC deposit. However, ETF flows and exchange deposits represent different types of market activity, so they should not be treated as direct offsets.
Strong ETF demand does not automatically mean exchange deposits will have no effect, just as an exchange deposit does not automatically mean that the coins will be sold immediately.
What the Binance transfers mean for Bitcoin
The key development is the continued movement of Bitcoin from a wallet associated with BIT into Binance while BTC trades near a major technical area.
If additional BTC is transferred to exchanges, traders may watch whether those coins remain dormant or move into active trading wallets. Conversely, if the coins are withdrawn again or remain unused, the immediate market significance of the deposits could be more limited.
The available blockchain data does not establish the intention behind the transfers. For now, the confirmed information is that the BIT-linked address has deposited 1,400 BTC on September 15 and another 1,000 BTC on September 19, bringing the reported total to 2,400 BTC.
Bitcoin's price is simultaneously holding near $81,000, while ETF inflows and exchange activity provide competing flow signals. The next movements from the bc1qsz address therefore remain something onchain observers can track directly as the market continues to test the $81,000 area.
