Winklevoss Wallets Send 1,000 BTC, 5,000 ETH to Gemini as BTC Grinds Near $60K

On-chain intelligence firm Arkham flagged a transfer of roughly 1,000 BTC ($60.3 million) and 5,000 ETH ($7.7 million) from long-term custody addresses linked to Tyler and Cameron Winklevoss into Gemini hot wallets, a combined move of roughly $68 million. The transfer lands as bitcoin continues to defend the $60,000 level after repeated tests to the downside.

Arkham’s tracking shows the wallets involved had been dormant in cold storage before the shift to exchange-facing addresses, a pattern the firm has associated with prior liquidity events tied to the twins. Moving funds to hot wallets typically precedes either sales or active market-making, and Arkham’s historical data shows funds occasionally cycling back to cold storage after such transfers.

A Repeat Pattern, Not a One-Off

This is not an isolated transaction. Arkham data cited in the report shows the Winklevoss twins moved a $130 million tranche to Gemini in March 2026, meaning the current $68 million shift is the latest in a recurring cadence of cold-to-hot movements rather than a single liquidation event.

Arkham estimates the twins have realized approximately $1.7 billion in cumulative profit from BTC sales since their initial entry into the asset. The pair reportedly acquired their original position at under $120 per coin in 2013, at one point controlling more than 1% of bitcoin’s total circulating supply. Despite the scale of historical selling, Arkham’s figures put their remaining crypto holdings at more than $300 million.

Reading the Wallet Flow Against Price Structure

For traders watching order books, the timing matters as much as the size. BTC has struggled to hold above $60,000 and has had to defend the level against multiple breakdown attempts in recent sessions, meaning any incremental supply reaching exchange order books adds to near-term selling pressure on an already fragile bid.

The ETH leg of the transfer is comparatively smaller in dollar terms but signals that the wallet activity isn’t purely BTC-specific, suggesting a broader liquidity or rebalancing operation rather than a bitcoin-only exit. On-chain researchers will be watching Gemini’s hot wallet balances and any reverse flows back to cold storage in the coming sessions to determine whether this tranche gets sold outright or simply repositioned, consistent with the twins’ history of funds cycling back to long-term addresses after liquidity events.

Read more: Bitcoin’s 9-Day High of $62.3K Collides With 200-Week SMA at $62,652