Bitcoin OG Garrett Jin withdraws 80,000 Ethereum from Binance as crypto markets weaken. The transfer occurred while Bitcoin fell below $71,000 and Ethereum traded under $2,100.
Market Conditions Surround the Withdrawal
Bitcoin OG Garrett Jin withdraws 80,000 Ethereum from Binance during a period of broad market stress. The transfer was valued at approximately $168 million, based on prevailing market prices. On-chain trackers reported the movement in real time.
The crypto market declined sharply during the same session. Bitcoin slipped under $71,000, while Ethereum fell below $2,100.
CoinGecko data showed that the total market capitalization had dropped to nearly $2.4 trillion. Several traders noted Jin’s pattern of moving funds during extreme price swings.
Large withdrawals from exchanges often attract attention as potential positioning signals. Jin previously deposited large Ethereum holdings into Binance in late 2025, according to Lookonchain.
This earlier activity contrasts with the latest outflow. Observers viewed the shift as a change in exposure rather than a routine transaction.
The trader remains widely followed for his timing during turbulent periods. His on-chain movements are frequently monitored by analysts and retail participants.
Two big #Ethereum bulls with huge losses — Garrett Jin(#BitcoinOG1011short) and Trend Research — used the same Binance deposit address.https://t.co/XNqkvCrpV2https://t.co/BHYHYrHzca pic.twitter.com/yCjISkVZqZ
— Lookonchain (@lookonchain) February 7, 2026
Each transaction becomes a data point in market sentiment discussions.
Shared Binance Address Draws Attention
Blockchain data shows Garrett Jin and Trend Research using the same Binance deposit address on the same day. Jin sent 10,000 ETH, worth about $20.4 million, to that address.
Trend Research transferred nearly 7.989 million USDT shortly after. Bitcoin OG Garrett Jin withdraws 80,000 Ethereum from Binance while activity is clustered around this single address.
Analysts described the pattern as unusual for separate entities managing large portfolios. Exchange routing systems may explain part of the overlap.
The address balance rose from under $25 million to more than $30 million within a short period. This increase suggested coordinated asset movement rather than isolated deposits.
Some market participants viewed the activity as liquidity management during volatile trading hours. Others questioned whether the transfers reflected shared strategies.
No public confirmation of collaboration has been reported. The repeated use of the address kept attention on Ethereum flows.
Each new transaction was tracked closely by on-chain observers. The pattern added another layer to the ongoing market narrative.
Losses Among Ethereum Bulls Provide Context
Several high-profile Ethereum investors have reported heavy losses in recent months. Tom Lee of Bitmine bought more than 4.2 million ETH at an average cost of $3,854.
Falling prices reduced the value of that position by billions. Garrett Jin swapped about 35,991 BTC for Ethereum and recorded losses above $770 million.
He also opened a leveraged long position involving 223,340 ETH. That position was later liquidated for about $195 million.
Jack Yi of Trend Research purchased 651,000 ETH for roughly $1.46 billion at an average price of $3,300. The decline in Ethereum pushed his unrealized loss close to $680 million.
These figures show the scale of exposure among large traders. Bitcoin OG Garrett Jin withdraws 80,000 Ethereum from Binance while still holding over 30,600 BTC.
His Bitcoin position remains valued above $2 billion despite market weakness. The contrast reflects diversified exposure across major assets.
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