Bitcoin (BTC) continues to trade close to its all-time high (ATH) of $111,980 set earlier this week. While some believe the top digital asset may have lost momentum, Binance exchange traffic data suggests that some investor groups are currently reluctant to sell their BTC holdings as they anticipate further gains ahead.
Bitcoin inflows into Binance suggest further gains possible
According to a recent article published by on-chain analyst Darkfost on CryptoQuant Quicktake, analyzing the amount of BTC flowing into Binance by short-term holders (STH) and long-term holders (LTH) can provide insight into selling pressure and its potential impact on price.
Darkfost noted that STH tends to be the most sensitive and sentiment-driven investor group when it comes to market volatility. The analyst shared several examples from past market cycles.
For example, during the BTC price correction in August 2024, when the BTC price fell from about $69,000 to $53,000, the STH gang sent more than 12,000 BTC to Binance. Similarly, during the tariff-induced panic in early March 2025, the gang dumped more than 14,000 BTC on Binance.
However, the current market behavior is different. Amid the ongoing rally, selling pressure from STH remains “very mild,” with only 8,000 BTC flowing into Binance so far.
LTH also showed a similar trend. At the peak of the 2024 market, LTH deposited 626 BTC to Binance, and 254 BTC before the previous peak. In contrast, during this rally, LTH deposited only 86 BTC. The analyst concluded:
Whether it is STH or LTH, there is no need to worry about the inflow of funds on Binance at present. However, this still needs to be considered in combination with the actual situation of current demand, because the current demand is still relatively strong.
While demand for Bitcoin remains strong, some warning signs are starting to appear. Ali Martinez, a well-known cryptocurrency analyst, commented on Bitcoin’s current range-bound movement in an X article and warned that a significant drop could occur if Bitcoin falls below the $106,800 support level.
No panic selling yet
Historically, when BTC reaches or approaches new all-time highs, it often triggers a wave of profit-taking, which brings huge selling pressure. However, this has not happened in this cycle.
Recent analysis shows that both the STH and LTH groups are holding large amounts of unrealized profits, but there are no strong signs of selling. In addition, exchange withdrawals are rising, suggesting that investors may be expecting further price increases.
Another positive indicator is that retail investor participation in the rally has been relatively low — often a sign that markets have yet to reach euphoria. At press time, BTC is trading at $10,503, down 0.3% over the past 24 hours.
