Whales move crypto to Binance as buyer demand lags

Large crypto holders sent around $2.4 billion worth of assets to Binance over the past week, signalling potential selling pressure.

The inflows were split almost evenly between Bitcoin and Ether, marking Binance’s largest net inflow in a month.

CryptoOnchain said the surge in deposits was not matched by new buying activity on the exchange.

Crucially, this surge in risk-asset deposits was not accompanied by new buying power.

CryptoOnchain said.

Stablecoin flows remained largely flat, indicating limited fresh capital entering the market.

Analysts noted that transfers from private wallets to exchanges often suggest preparation for selling or use as derivatives collateral.

CryptoOnchain flagged a potentially bearish signal as Bitcoin accumulation has stalled since October.

The average size of Bitcoin deposits to Binance jumped sharply as whales moved larger amounts onto the platform.

Exchange outflows showed smaller average withdrawal sizes, pointing to reduced long-term accumulation by major holders.

These metrics are a clear warning signal.

CryptoOnchain said, citing rising selling pressure and weaker holding appetite.

Bitcoin traded near $92,600 after a modest daily gain as post-holiday market activity resumed.

At the time of reporting, Bitcoin price was $92,500.24.