Bitcoin Price Pulls Back From $84K as Bitget Reopens Withdrawals and Whale Moves 4,500 BTC

• Bitcoin price fell below $84,000 on Monday after trading above $85,000 earlier in the day
• Bitget began restoring BTC withdrawals on the Bitcoin network after its September 24 security breach
• A dormant whale moved 4,500 BTC worth about $378.8 million, though the transfer does not establish that the coins were sold

Bitcoin price has slipped back below $84,000 after spending the weekend around that level. The pullback comes as Bitget begins reopening withdrawals following a security breach, giving customers their first chance to move Bitcoin off the exchange since September 24. A large holder has also moved 4,500 BTC, bringing another closely watched wallet into view. The developments have landed together, but the detail that matters most for traders is where those coins went.

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Bitget Starts Restoring Bitcoin Withdrawals

Bitcoin traded near $82,800 on Monday, down roughly 2% over 24 hours at the time of writing, after reaching a daily high above $85,000. This leaves BTC’s price below the $84,000 level highlighted in weekend market posts, though a price move alone cannot tell us whether exchange customers or large holders are selling.

Bitget’s withdrawal schedule set the first phase for September 28 at 08:00 UTC, beginning with BTC on the Bitcoin network. Other assets and networks have separate reopening dates. Customers should check the status of the specific withdrawal route they need before assuming service has returned across the exchange.

The restart follows unauthorized transfers detected on September 24. In its incident report, Bitget said its revised estimate of assets sent to attacker-controlled addresses was about $387.5 million, up from an initial $351.6 million. Restoring withdrawals is a step for customers, while the investigation and recovery work continue.

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What the 4,500 BTC Whale Transfer Shows

On-chain tracker Lookonchain flagged a 4,500 BTC transfer valued at about $378.8 million. The movement has drawn attention because the wallet had been inactive for more than four years. The two movements need to be identified by transaction before anyone totals them or calls them separate holders. The reported destination was another wallet, rather than an identified exchange deposit.

There is a second exchange figure doing the rounds, too. CryptoQuant data showed a net outflow of 13,878 BTC from Binance on September 22. Exchange outflows can reflect withdrawals into private custody, but they do not show who bought the coins or what those holders intend to do next.

Currently, the confirmed developments are a lower Bitcoin price, a phased reopening at Bitget, and a large wallet transfer. The whale’s reason for moving its coins remains unknown.

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