Bitcoin Whale Activity Rises Sharply on Binance: Details

Whale activity on Binance has seen a marked increase, with Bitcoin at the center of attraction, even as the crypto market continues to consolidate.

This trend is notable as the activities of the largest market participants significantly impact proceedings. Particularly during this period of prolonged price retracement, keeping tabs on what Bitcoin whales are doing on Binance, the largest centralized exchange in the space, helps in understanding the current sentiment.

Key Points

• Whales are activating on Binance, with Bitcoin at the center of attraction, even as the crypto market continues to consolidate.
• The whale inflow ratio, a metric that compares the volume of the ten largest Bitcoin deposits to the total amount entering an exchange, highlighted this increased activity
• In early February, that ratio stood near 0.40 but rose sharply to 0.62 within two weeks.
• The relocation to the centralized exchange suggests the start of a heavier sell-side pressure following a persistent price correction.
• Rising whale inflows do not automatically mean they are selling.

Bitcoin Whales Come Alive on Binance

Market turbulence continues to ripple through the crypto space, testing the confidence of holders at every level. While retail traders often react quickly to price swings, larger players tend to move more deliberately. 

A recent analysis from CryptoQuant author Darkfost suggests that Bitcoin whales are now taking action on Binance. Their activities have picked up sharply on the largest CEX by trading volume as the asset’s price consolidates.

The analysis highlighted these increased activities using the whale inflow ratio, a metric that compares the volume of the ten largest Bitcoin deposits to the total amount entering an exchange. By smoothing the data with a weekly average, the indicator highlights a clearer behavioral trend among BTC whales.

In early February, that ratio stood near 0.40. However, within two weeks, it has risen to 0.62. Notably, this uptick indicates that massive Bitcoin deposits now account for a much larger share of the exchange’s inflows.

Historically, this pattern often appears when large holders prepare for major moves regarding their holdings. In this case, the CryptoQuant analysis suggests the start of a heavier sell-side pressure following a persistent price correction.

Notable Whales Push BTC to Binance

The analysis also identified a popular wallet that pioneered this inflow to Binance. According to the report, Garrett Jin, also known as the “Hyperunit whale,” recently transferred nearly 10,000 BTC to Binance.

Still, the wallet is not alone in this shift. Several other large deposits from unrelated addresses suggest that multiple whales are responsible for this increased Bitcoin movement to Binance. This collective behavior could amplify volatility, especially given that broader market investors are already skeptical of the current price trend.

Nonetheless, rising whale inflows do not automatically mean they are selling, and prices will fall. It means that large holders may be preparing to either reduce exposure, hedge positions, or simply rotate capital from BTC to other cryptocurrencies.

For now, their activities remain unclear, but the analysis suggests they could shape the short-term price direction. Watching how these inflows evolve in the coming weeks may provide insight into whether the market will rebound or correct further.