according to an article from the portal - By Bitcoin Sistemi EN
The cryptocurrency analytics firm CryptoQuant has published an impressive assessment of the current state of Bitcoin. According to the firm's analysts, the behavior of whales on Binance shows that Bitcoin has once again proven its resilience, maintaining a level above $100,000.
According to CryptoQuant data, when Bitcoin approaches or exceeds historical highs, Binance whales typically send large volumes of BTC to the exchange in an attempt to lock in profits. These actions are reflected in a sharp increase in inflow volumes to the exchange.
Analysts remind us that during the peak period in early 2024, Binance received over $5.3 billion in BTC inflows, whereas during the peaks of previous cycles, these figures reached $8.45 billion and $7.24 billion. It is claimed that such large inflows are usually followed by short-term or medium-term corrections.
However, the situation is different in the current scenario. According to the latest data, the inflow of BTC to Binance is only around $3 billion, and this figure continues to decline. This indicates that whales are currently avoiding sales and continue to hold their Bitcoins in anticipation of higher profits.
CryptoQuant analysts assert that this attitude of Binance whales should not be ignored:
"Given the impact these whale exits can have on the market, the current position of Binance whales clearly signals a bullish trend."
$BTC , $KSM , $BNB
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