Quick Breakdown
- $2.4B in BTC and ETH moved to Binance, marking the exchange’s biggest net inflow in a month
- Stablecoin inflows remain flat, signaling weak buying demand
- Bitcoin accumulation by large holders has stalled, raising short-term price concerns
Large cryptocurrency holders are once again shifting sizable amounts of digital assets to centralized exchanges, a trend analysts say could signal mounting sell-side pressure even as overall market demand remains subdued.
Whales flood Binance with Bitcoin and Ether
On-chain data shows that crypto whales transferred roughly $2.4 billion worth of assets, split almost evenly between Bitcoin (BTC) and Ether (ETH), to Binance over the past week. This marked the exchange’s largest net inflow in nearly a month, according to CryptoOnchain.
Despite the surge in deposits, analysts noted a glaring absence of fresh capital entering the market.
“The buying power is missing,”
CryptoOnchain said in a market note shared with CryptoQuant.
Stablecoin inflows, often used as a proxy for potential buying demand, remained largely unchanged. Net stablecoin inflows stood at just $42 million, most of which reflected internal transfers between the Ethereum and Tron networks rather than new funds entering exchanges.
Exchange deposits signal rising selling risk
CryptoOnchain explained that large transfers from private wallets to exchanges are commonly associated with preparations to sell or the use of assets as collateral in derivatives trading.
Supporting that view, the average size of Bitcoin deposits sent to Binance has risen sharply. Whale transactions increased from roughly 8–10 BTC per transfer earlier this year to 22–26 BTC, indicating that major holders are moving larger chunks of Bitcoin onto the exchange.
Further adding to the cautious outlook, CryptoOnchain flagged a slowdown in Bitcoin accumulation among large investors since October.
At the same time, Binance outflows have dropped significantly. The average withdrawal size now ranges between 5.5 and 8.3 BTC, suggesting fewer large holders are moving Bitcoin into cold storage for long-term holding.
Bitcoin price holds steady as holidays end
Despite the warning signs, Bitcoin has shown modest resilience. The asset rose 1.3% over the past 24 hours, trading around $92,600 after briefly touching $93,170, as markets gradually return to normal activity following the holiday lull.
Meanwhile, Binance CEO Richard Teng pushed back against the long-held perception that Bitcoin is uniquely volatile, arguing that the asset’s recent price swings are consistent with patterns seen across major global markets.
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