#BTC Binance inflows- Source: CryptoQuant
Historically, major inflows to centralized exchanges like Binance, especially from smaller wallets, tend to indicate FOMO-driven buying. When this aligns with stagnant spot volume or declining whale activity, it often marks short-term tops.
Taker buy volume is on the rise- Source: X
In this case, it adds to the growing list of signals suggesting that the rally from ~$100K to ~$108K lacked fundamental support.
Dormant Coins Reactivate as Futures Push Bitcoin (BTC USD) Price
Another noteworthy shift: previously inactive BTC wallets have begun moving coins for the first time in over 3–5 years.
While not massive in volume, these wallet reactivations tend to occur when long-term holders feel pressure or an opportunity to reposition.
In the current market scenario, such repositioning may be termed a red flag, with even the oldest holders waking up, possibly to sell into the strength.
10-year-old wallets moving BTC- Source: CryptoQuant
The broader trend of BTC moving into long-term holder wallets hasn’t translated into a meaningful price breakout. That mismatch hints at underlying hesitation despite the apparent accumulation.
Meanwhile, the recent surge, from $100K to $108K, seems to have been driven more by leveraged bets than genuine spot buying.
Open interest in futures climbed consistently, but spot inflows stayed muted, suggesting traders, not long-term buyers, were behind the move.
With futures premiums shrinking and funding rates softening, the lack of follow-through in spot markets is now being reflected in the price retrace.
What’s Next for Traders
Bitcoin (BTC USD) holdings above the $104K–$105K region remain crucial in determining near-term direction. A break below could confirm that the rally was structurally weak, driven more by leverage and retail inflows than organic demand.
At the same time, the behavior of long-term holders will be key. If they continue to absorb supply while whales exit, it may set up for a stronger base.
But if these participants start selling as well, Bitcoin’s current range could give way to deeper losses.
Bitcoin’s (BTC USD) move above $106,000 last week sparked fresh bullishness, but on-chain signals suggest the story might not be so straightforward.
While long-term holders quietly added over 1 million BTC, short-term whales exited, dormant wallets reawakened, and retail piled in just before the correction.
Together, these signals raise questions about what’s really fueling Bitcoin’s recovery.
Whales Exit, But Long-Term Bitcoin (BTC USD) Holders Step In
Over 1.02 million BTC moved into long-term holder wallets between June 15–24, marking one of the largest accumulation stretches since early 2023.
These coins were absorbed during a period of realized losses for newer whale entrants, who reportedly lost $228 million in just 10 days.
Table of Contents
Market Musing-g
Over a Million Bitcoin (BTC USD) Moved, And You Probably Missed Why
Bitcoin BTC Top TOP Million MM X X Coin CIN
5 mins read
Over a Million Bitcoin (BTC USD) Moved, And You Probably Missed Why
Table of Contents
Whales Exit, But Long-Term Bitcoin (BTC USD) Holders Step In
Retail FOMO Coincides With Local Top
Dormant Coins Reactivate as Futures Push Bitcoin (BTC USD) Price
What’s Next for Traders
Bitcoin’s (BTC USD) move above $106,000 last week sparked fresh bullishness, but on-chain signals suggest the story might not be so straightforward.
While long-term holders quietly added over 1 million BTC, short-term whales exited, dormant wallets reawakened, and retail piled in just before the correction.
Together, these signals raise questions about what’s really fueling Bitcoin’s recovery.
Whales Exit, But Long-Term Bitcoin (BTC USD) Holders Step In
Over 1.02 million BTC moved into long-term holder wallets between June 15–24, marking one of the largest accumulation stretches since early 2023.
These coins were absorbed during a period of realized losses for newer whale entrants, who reportedly lost $228 million in just 10 days.
Short-term to long-term BTC transition- Source: CryptoQuant
Such behavior suggests that while smart money is steadily moving out, conviction-driven wallets are stepping in.
This supply-absorbing trend typically signals a handoff from short-term speculative participants to long-term holders preparing for longer cycles, a relatively bullish sign per The Coin Republic analysts.
However, this accumulation hasn’t been enough to push the price higher. Instead, the same period saw Bitcoin reject near $108K and retrace to test the $104K–$105K zone.
Retail FOMO Coincides With Local Top
Retail traders surged into Binance around June 20–23, driving user inflows to their highest point since May 2022.
This activity coincided almost perfectly with Bitcoin’s (BTC USD) recent local top, suggesting fresh buyers may have entered at overheated levels.
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