18 million Binance Life coins transferred to the exchange, is this major holder about to incur losses?

【Bi推】On-chain data shows that a certain wallet address transferred 18 million Binance Coin (BNB) to an exchange 10 hours ago, equivalent to approximately $2.496 million, with an entry price of $0.1386.

Interestingly, this address is not a short-term trader. Data backtracked to early October 2024, shows it started building positions in batches, continuing from October 7th to November 18th, with an average cost around $0.171.

The question is—if this large holder now sells all their holdings into the market, based on the average entry price, they would face an unrealized loss of $58,100. The current price of $0.1386 indicates that the loss on this transaction is already quite significant.

There are usually two possible scenarios for this pattern: either a desperate cut-loss in anticipation of the market’s decline, or a stop-loss exit at a key support level. Regardless of which, it reflects a shift in market sentiment. Monitoring such large movements often helps to catch early signs of market turning points.