Binance Whales May Have Signaled the Path of Bitcoin! Here Are the Movements

The Crypto analysis firm CryptoQuant has published a remarkable assessment regarding the current state of Bitcoin. According to the company's analysts, the behavior of whales on Binance shows that Bitcoin is proving its resilience by holding above 100,000 dollars.

According to CryptoQuant data, when Bitcoin approaches or surpasses all-time high levels, Binance whales generally send large amounts of BTC to the exchange for profit realization. These movements are reflected in sharp increases in the entry volumes to the exchange.

Analysts remind us that at the peak period at the beginning of 2024, there was an influx of over 5.3 billion dollars worth of BTC into Binance, while in previous cycle peaks, these figures reached levels of 8.45 billion dollars and 7.24 billion dollars. It is noted that after such large inflows, short or medium-term corrections typically follow.

However, the situation is different at present. According to the latest data, BTC inflows to Binance are only around 3 billion dollars, and this figure continues to decline. This also shows that whales are currently avoiding sales and continue to hold their Bitcoins with the expectation of higher profits.

CryptoQuant analysts argue that the attitude of Binance whales should not be overlooked:

"Considering the impact that these whale entries could have on the market, the current stance of Binance whales clearly indicates a bullish trend."

*It is not investment advice.

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