Darkfost
Whale selling Is cooling down on Binance
Despite a challenging period for Bitcoin, it continues to hold its range between $62,000 and $75,000, showing a certain level of resilience despite an environment that remains uncertain. Bitcoin is now trading at around 47% of its all-time high reached in October, reflecting a phase of correction and consolidation following the euphoria of the previous peak. Although this period of uncertainty is not particularly favorable for the crypto market, we can observe an interesting shift in the behavior of some large players. Selling activity from whales on Binance has been clearly declining, suggesting a slowdown in selling pressure on the platform. As BTC was gradually approaching the $60,000 level, whales became particularly active on Binance. Their activity even peaked on February 4, with more than 11,800 BTC sent to the exchange in a single day. This intense phase of activity significantly pushed the monthly average of BTC inflows higher. It increased from around 1,000 BTC sent daily to Binance to nearly 4,000 BTC by the end of February, reflecting a more pronounced distribution phase from large holders. Since then, the situation appears to have cooled down significantly. Whale activity has declined notably, with the 30-day moving average now sitting around 1,600 BTC sent daily to Binance. This decrease in whale deposits could indicate a short-term slowdown in selling pressure, with large players seemingly adopting a wait-and-see approach in this still uncertain market environment.