CryptoQuant explains the update of $BTC historical maximum due to whale activity on Binance

On July 11, 2025, the price of the first cryptocurrency exceeded the mark of $118,000 for the first time. Experts from the CryptoQuant and Santiment platforms commented on Bitcoin's achievement of a new historical maximum.

CryptoQuant stated that the key factor for the sharp rise was the emergence of a large buyer on the cryptocurrency exchange Binance. Until that moment, traders from the USA on Coinbase played a major role in the price movement. Analysts emphasized that the purchase occurred synchronously with the breakthrough of the historical maximum, which may indicate the intention of institutional investors to continue accumulating.

They added that the number of Bitcoins on centralized platforms continues to decrease: in just the last four months, over 315,000 BTC were withdrawn. Compared to July 2020, the figure has decreased by 1.88 million BTC — that is, by 61%.