Bitcoin Holds Near $81,000 as BIT (formerly Matrixport) Moves 2,400 BTC to Binance

Bitcoin is trading just above $81,000, hovering near a resistance zone identified between $81,700 and $83,000. The market’s attention is focused on a series of large Bitcoin deposits made by a wallet linked to BIT, the firm formerly known as Matrixport.

Recent On‑Chain Activity

The address beginning with “bc1qsz” sent 1,000 BTC, valued at roughly $81.06 million, to Binance on September 19. This follows an earlier transfer on September 15 in which the same entity moved 1,400 BTC (about $107.8 million) to the exchange. Over the four‑day period, BIT has moved a total of 2,400 BTC to Binance.

Background on BIT

BIT, rebranded from Matrixport in March 2026, is a Singapore‑based crypto firm founded in 2019 by former Bitmain executives. The company manages over $6 billion in assets and processes more than $7 billion in monthly trading volume. It is exploring U.S. capital‑market options, including a potential public listing.

Potential Market Impact

Large deposits to Binance increase the exchange’s on‑hand Bitcoin supply, which now exceeds 693,000 BTC – the highest level in two years. Traders watch such inflows because they can add sell‑side pressure if the coins are placed on the order book, especially near the $81,700‑$83,000 resistance range.

However, the deposits could also be for margin or client‑related purposes, in which case the coins may remain idle on the exchange. Meanwhile, U.S. spot Bitcoin ETFs attracted $433 million in inflows on September 18, dwarfing the combined value of BIT’s two transfers.

Key Takeaways

• BIT moved 1,000 BTC ($81 million) to Binance on September 19, following a 1,400 BTC transfer on September 15.
• Bitcoin is trading just above $81,000, near a resistance zone of $81,700‑$83,000.
• Binance’s Bitcoin reserves have risen above 693,000 BTC, the highest in two years.
• U.S. spot Bitcoin ETFs recorded $433 million of inflows on September 18, exceeding the value of BIT’s deposits.
• The market’s reaction will depend on whether the deposited coins enter the order book, remain idle, or are absorbed by continued ETF demand.