Bitcoin whale Garett Jin has been moving tranches of his BTC holdings to crypto exchanges for a potential sell off. The latest move was a $760 million transfer of the coin to Binance as markets await the impact of Trump’s new tariffs.
Garett Jin New BTC Transfer Sparks Fear of Bitcoin Sell-Off
According to Lookonchain, Garrett Jin transferred $760 million worth of the coin in a large transaction. The trader transferred 6,318 BTC, valued at around $425 million, to Binance. This is in addition to a series of transfers that have caught the attention of blockchain researchers.
Earlier today, the address moved around $336 million worth of Bitcoin to Binance. It completed the total of $760 million. This raised concerns about a potential Bitcoin sell-off as markets prepare for the Trump tariff effect.
Only yesterday, Peter Schiff warned investors about a potential crash in the price of BTC to $20,000. The analyst told holders of the coin to sell all their holdings as the crash could get worse.
Jin, a trader also known as Garrett Bullish, is most famous for his trading. He became popular after his short position in Bitcoin just before the huge market crash that was caused by the tariff announcement by Trump in October.
He still holds more than 9,300 BTC, which are worth $627 million, and more than 548,000 ETH, which are worth more than $1 billion. Whether this is a new Bitcoin transfer for the purpose of a sell-off is yet to be confirmed by experts.
Markets Prepare for a Possible Fall Due to the Tariff Drama
The cryptocurrency market is preparing for a possible fall due to the tariff drama. Yesterday, President Trump said that the United States will impose a 10% global tariff on all countries for five months.
This was just after the Supreme Court canceled their initial tariffs. At that time, the price of BTC did not react much. However, it brought concerns that people might begin selling Bitcoin. This is due to the impact that the previous tariff had in October 2025.
There are still disputes regarding the repayment of the money that the government collected. Senator Warren asked questions on how the government intends to pay back these debts.
“The court has struck down these destructive tariffs, but there is no legal mechanism for consumers and many small businesses to recoup the money they have already paid,” she said.
