CryptoQuant Quicktake

Monitoring the behavior of whales and retail investors offers a valuable lens into current market sentiment. Today, Binance BTC inflows from both groups have dropped to their lowest levels since the beginning of this cycle.

This pattern indicates a strong preference for holding rather than selling. Notably, both whales and retail investors appear aligned in their approach, a highly constructive signal for the market.

Aside from the consistent inflows observed early in the cycle, there were two key moments when whales and retail investors acted in sync.

These periods coincided with previous market tops, during which synchronized inflows into Binance were clearly visible from both investor category.

This sharp decline in inflows may suggest that most participants are waiting for clearer macroeconomic signals or simply maintaining high conviction in Bitcoin’s long-term trend.

Such alignment across investor classes may also reflect broader market confidence, with expectations of further profits ahead.

Written by Darkfost

👉🏻 To understand how the current geopolitical events and the WAR are affecting investor behavior, and how the markets are reacting to this WAR, we can look at the BTC FLOWS and the changes in open positions in the DERIVATIVES market.

1️⃣ The Netflow data shows the difference between BTC sent TO Exchanges and BTC withdrawn FROM the exhanges.

The WAR news reached the markets on June 11, 2025. Since June 11, there has been NO significant change in NETFLOW, meaning there is NO clear increase in BTC being sent to EXCHANGES for selling FOR NOW.

2️⃣ Open Interest on Centralized Exchanges (CEXs) shows us the OPEN POSITIONS in the DERIVATIVES market. Of course, some LONG positions were liquidated as the price dropped a bit, and that's why open interest fell. But when we look at the bigger picture, Open Interest still looks strong, and investors are still keeping their positions open FOR NOW despite all the WAR news.

3️⃣ When we check the Open Interest on the Chicago Mercantile Exchange (CME), where FUNDS and SPECULATORS trade, we see that some positions were closed after June 11 and Open Interest dropped a little. But FOR NOW, there is still NO major exit movement.

🎯 CONCLUSION: As we’ve seen in past examples, there is NO big panic in the markets FOR NOW. There is NO noticeable increase in BTC being sent to centralized EXCHANGES. And although there is some pullback in both CEX and CME, most derivative positions are still being held open FOR NOW. This situation is currently quite HOPEFUL and seems to be caused by the market seeing the current geopolitical event and WAR as "LOCAL CONFLICTS".

⚠️However, it's UNCERTAIN whether this will continue, whether the WAR and tension will escalate, or whether the markets will react NEGATIVELY LATER. That’s why, without panicking, staying calm, sticking to the TWO-WAY GAME PLAN we prepared earlier, and watching the key levels we discussed in past analyses, the smartest move right now is to use the "WAIT AND SEE" approach.

Written by CryptoMe

The correlation between Binance's Open Interest (OI) and Bitcoin's price is a key signal for traders. When the correlation drops significantly (≤ 0.1), it often signals an inverse behavior between price and OI. Historically, this has preceded major volatility spikes in Bitcoin's price. 📈📉

Why? A low correlation suggests leveraged traders on Binance are positioning against the price trend, setting the stage for liquidations. When these positions get squeezed, the price reacts sharply, amplifying volatility. 💥

Key takeaway: Watch for a falling Binance OI correlation—it’s a warning of potential liquidations and big price moves ahead! 🔍

Written by joaowedson

Ethereum's price recovery above $2,670 initiated a major liquidation event on Binance, resulting in over $500 million in "short" (sell) positions being forcibly closed.

This action compelled late sellers to close their positions during a swift upward price surge, intensifying the liquidation delta.

Why did the short squeeze occur?

* Leveraged short overcrowding occurs when traders excessively take short positions in anticipation of further market decline, resulting in a precarious situation prone to a squeeze.

* As Ethereum’s price began to recover, late-entry sellers were forced to close positions, triggering automatic buy orders to cover shorts.

* As sellers faced liquidation, their margin calls triggered market purchases, driving funding rates into positive territory.

Rising Ethereum Inflows to Derivative Exchanges:

* Starting from June 13, there has been a notable surge in Ethereum deposits to derivative exchanges, with multiple inflows exceeding 30,000 ETH per transaction.

The surge in Ethereum deposits on derivatives exchanges can fulfill various functions:

* Increased Hedging: Traders might be depositing Ethereum to hedge existing spot positions, either by opening new short positions or adjusting their derivatives exposure.

* Increased Short-Selling Risk: The ETH deposited on exchanges may facilitate new leveraged short positions if prices stagnate, thereby exerting additional downward pressure.

Conclusion:

The dynamic relationship between liquidations, exchange flows, and funding rates remains critical. While the price may undergo a minor correction to normalize funding rates, the rise in exchange ETH balances could set the stage for renewed volatility—either by supporting leveraged short positions or facilitating bearish strategies.

Traders should closely monitor funding rates and netflow trends, as these metrics will determine the direction of ETH's next move.

Written by Amr Taha

Unrealized profits on Binance’s Bitcoin reserves are soaring to record levels.

In May 2025, Binance saw its unrealized profits approaching 60 000 BTC, marking an all-time high for the exchange.

These nearly 60 000 BTC in unrealized profits now represent over $6 billion with Bitcoin trading at $100 000.

This surge reflects not only Bitcoin’s ability to now hold above the $100 000 mark, but also deeper underlying trends.

One key factor is the consistent increase in Binance’s BTC reserves, which signals growing investor confidence in the platform. Users appear more willing to deposit and store their BTC on Binance, a clear indicator of trust.

Additionally, this trend reveals ongoing demand for BTC on Binance, forcing the platform to hold more spot Bitcoin, a healthy sign of organic market activity.

As of today, the average realized price of Binance’s BTC reserves stands at approximately $56 000, meaning that the platform holds a substantial amount of Bitcoin in strong profit territory.

In conclusion, we can say that Binance is strengthening its role as a key BTC custodian, with investors showing growing confidence in the platform.

Written by Darkfost

In today’s crypto markets, macroeconomics has become the dominant narrative. As a result, key indicators such as the DXY (US Dollar Index) and US Treasury yields are now closely monitored by investors, as they reflect institutional sentiment and the broader state of global liquidity.

This chart provides a visual comparison between Bitcoin, the DXY, and 5Y, 10Y, and 30Y Treasury yields.

It clearly illustrates a well-known macro principle:

- When both the DXY and bond yields rise, capital tends to flee risk assets. Bitcoin often experiences corrections in such environments. Historically, bear markets in crypto have coincided with strong uptrends in both yields and the DXY.

- Conversely, when the DXY and yields lose momentum, investor appetite shifts back toward risk. These periods are typically linked to monetary easing or expectations of Federal Reserve rate cuts, fueling bullish sentiment across crypto markets.

What’s striking in the current cycle is the unusual decoupling between Bitcoin and bond yields. Despite yields reaching some of their highest levels in Bitcoin’s history, BTC continues to trend upward, often accelerating when the DXY declines.

This anomaly suggests a structural shift in Bitcoin’s role within the macro landscape.

The explanation is that Bitcoin is becoming increasingly perceived as a store of value.

This new narrative may be redefining how BTC reacts to traditional macro forces.

Written by Darkfost

The cryptocurrency market recently witnessed significant volatility, particularly affecting Ethereum (ETH) and Bitcoin (BTC).

The Sharp Decline in ETH Open Interest (OI) on Binance :

* Open Interest (OI) for ETH on Binance, the world's largest cryptocurrency exchange by trading volume, experienced a sharp contraction with a 19% drop, coinciding with a rapid decline in Ethereum's price from levels above $2800 to below $2500 within a short period.

* This steep drop in Open Interest suggests a wave of panic-induced selling. Traders likely rushed to close their long positions, either manually in fear of deeper losses or automatically via forced liquidations as stop-loss triggers were hit.

Bitcoin Outflows from Coinbase: A Parallel Trend :

* Simultaneously, on-chain data reveals a significant withdrawal of over 7,000 BTC from Coinbase.

* This movement is crucial, as it coincided precisely with the ETH Open Interest flush, suggesting that large players may be repositioning for accumulation, or transferring holdings to cold storage.

Conclusion:

The sudden ETH Open Interest 19% drop on Binance, driven by panic selling and liquidations, underscores the fragility of sentiment during volatile conditions. However, the concurrent massive Bitcoin withdrawal from Coinbase introduces a bullish counter-narrative, implying that strategic investors may view the dip as a buying opportunity.

Written by Amr Taha

XRP's recent price and volume surge presents a nuanced picture on CryptoQuant. Initially, the rally showed clear signs of retail FOMO. Active Addresses spiked significantly with price increases, then quickly fell as the market stabilized, a textbook pattern of individual investors rushing in and then disengaging. This retail impulse was further underscored as Spot Average Order Size revealed that normal investors drove the price up, reflecting smaller transaction sizes typical of the broader retail market.

However, the narrative isn't purely retail-driven. Post-pump, larger players appear to be providing a supportive layer. The Funding Rate in derivatives markets remains positive at pre-hike levels, suggesting persistent bullish sentiment from leveraged positions. Similarly, Open Interest, though down from its peak, stays significantly higher than before the surge, indicating sustained speculative capital. Crucially, Spot Average Order Size also indicates that whales keep the price up, implying that after the initial retail push, larger entities are stepping in to either accumulate or defend price levels.

In essence, XRP's recent market action is a two act play. Retail investors sparked the initial, rapid ascent. Now, however, larger players are playing a critical role in maintaining price stability and providing underlying support, moving the market beyond a simple, fleeting retail-driven pump.

Written by Banker

XRP's recent price and volume surge presents a nuanced picture on CryptoQuant. Initially, the rally showed clear signs of retail FOMO. Active Addresses spiked significantly with price increases, then quickly fell as the market stabilized, a textbook pattern of individual investors rushing in and then disengaging. This retail impulse was further underscored as Spot Average Order Size revealed that normal investors drove the price up, reflecting smaller transaction sizes typical of the broader retail market.

However, the narrative isn't purely retail-driven. Post-pump, larger players appear to be providing a supportive layer. The Funding Rate in derivatives markets remains positive at pre-hike levels, suggesting persistent bullish sentiment from leveraged positions. Similarly, Open Interest, though down from its peak, stays significantly higher than before the surge, indicating sustained speculative capital. Crucially, Spot Average Order Size also indicates that whales keep the price up, implying that after the initial retail push, larger entities are stepping in to either accumulate or defend price levels.

In essence, XRP's recent market action is a two act play. Retail investors sparked the initial, rapid ascent. Now, however, larger players are playing a critical role in maintaining price stability and providing underlying support, moving the market beyond a simple, fleeting retail-driven pump.

Written by Banker

The price of Bitcoin has once again renewed its historical high, surpassing the $108,000 range, a relevant milestone that signals the strengthening of the upward movement and the prevailing optimism in the market.

However, the Puell Multiple indicator, which measures miners' daily revenue in relation to the annual average, remains close to the discount zone, below 1.40 at the moment.

This behavior of the Puell Multiple suggests that, despite the significant price appreciation, miners' revenues have yet to follow suit - signaling that the market may be being driven by external forces, such as institutional demand, ETFs, or tightening circulating supply. The recent drop in block reward after the April 2024 Halving has also intensified this effect, reducing miners' profitability even in a rising price scenario.

Historically, when Puell Multiple is below 1.0 we associate periods of accumulation or undervaluation, where the price of Bitcoin does not yet reflect the full potential for long-term growth.

Seeing this indicator at such low levels during a new all-time high is rare - and may indicate that the market has not yet reached its full euphoric phase. There is room for expansion, both in mining revenues and in positive market sentiment.

Therefore, the current scenario represents a potential window of opportunity. The combination of a historically high price and still conservative fundamentals reinforces that the upward cycle may only be half over.

If miners' revenues rise again in line with demand, we could see new highs in the coming months.

Written by G a a h

Yesterday, Binance recorded its most substantial single-day Bitcoin long liquidation in USD terms over the past five years, reaching approximately $211 million USD.

This sharp spike in liquidations was triggered by a sudden intraday price correction, resulting in the forced closure of a large number of highly leveraged long positions.

The scale of the event indicates a pronounced imbalance between market expectations and price reality, exposing the vulnerability of overextended trading behavior during volatile market conditions.

Written by EgyHash

Binance Net Taker Volume Spikes to -$197M – Highest Since June 6:

* Bitcoin's Net Taker Volume on Binance, a key metric that monitors aggressive selling versus buying, has reached its most negative level since June 6.

* This indicates dominant sell-side pressure, as traders rush to offload BTC at market prices rather than placing passive bids.

The 7-hour moving average (7HMA) confirms the bearish momentum, with sustained negative values since June 12.

* Historically, extreme net taker sell-offs (below -$160M) have coincided with short-term bottoms, as panic capitulation often exhausts sellers. The last time this occurred (June 6), Bitcoin rebounded 4% within 24 hours.

Israel-Iran Conflict Triggers Aggressive Selling:

* The sudden spike in sell volume aligns with Israel’s unexpected military strike on Iran early Friday (June 13), which sent shockwaves through global markets.

* Crypto, as a high-risk asset, faced immediate liquidation pressure:

- Traders dumped BTC in anticipation of broader market turmoil.

- Leveraged long positions were unwound, amplifying downside momentum.

Heavy Selling Often Marks Potential Bottoms:

* While the net taker volume suggests extreme bearish sentiment, such capitulation frequently occurs near local price bottoms.

Key reasons:

1- Weak Hands Exit – Retail and overleveraged traders surrender positions, reducing sell-side pressure.

2- Whales Accumulate – Large buyers often step in when fear peaks, absorbing cheap supply.

3- Contrarian Signal – The June 6 precedent shows how extreme net taker sell-offs precede reversals.

Conclusion: Is the Bottom In?

The (-$197M) net taker volume and geopolitical panic have created a high-risk, high-reward setup. While short-term volatility may persist, the conditions resemble past recovery scenarios.

Written by Amr Taha

In the early hours of Friday(June 13, 2025), the cryptocurrency market experienced a sharp downturn triggered by geopolitical tensions after Israel launched a surprise military strike on Iran. The attack, which occurred before dawn, sent shockwaves across risk markets, with Ethereum (ETH) taking a particularly hard hit.

ETH Longs Wiped Out After Flash Crash Below $2600:.

On Binance, a sudden plunge in ETH price below the critical $2600 support level led to a cascade of long liquidations.

According to the attached liquidation heatmap, the most significant wipeouts were concentrated in the $2650–$2430 range, where late buyers had heavily opened long positions at $2800 expecting continuation of the previous bullish momentum.

As price rapidly dropped through these key zones, stop-losses and liquidation triggers were hit in succession, leading to a dramatic flush of leveraged positions.

Binance Bitcoin Funding Rates Mirror Panic: Traders Bet on Further Downside:.

* The market-wide panic didn’t stop at Ethereum. The unexpected nature of the geopolitical event caused a surge in risk-off sentiment, which accelerated selling across crypto assets.

* Interestingly, current Bitcoin funding rates on Binance have returned to the same deeply negative territory last seen on June 8.

Conclusion: Potential Price Recovery on the Horizon:

* While the market reaction to the Israeli strike on Iran triggered a wave of fear-driven selling and widespread liquidations, The return of Bitcoin funding rates to deeply negative levels, similar to those observed on June 8, may signal an overly bearish positioning among derivatives traders.

* Additionally, the liquidation of late ETH buyers may have flushed out excess leverage, providing a cleaner foundation for potential recovery.

Written by Amr Taha

Ethereum Binance Open Interest Jumps 38% in 5 Days — Is the Price Getting Too Hot?

On June 5, Ethereum's Open Interest (OI) on Binance stood at around $5 billion.

But by June 10, it had skyrocketed to $6.9 billion — the second-highest OI level of 2025 so far. That’s a 38% increase in just 5 days. During the same period, ETH price rallied from $2400 to $2879.

What Does It Mean?

Such a sharp rise in both price and OI usually means more leveraged long positions are piling up. Everyone’s trying to catch the move, and that pushes the price higher — fast.

But here’s the thing.

When things move too fast, cooldowns often follow. It’s not a guarantee, but the risk of a short-term correction becomes real.

Written by burakkesmeci

Massive Accumulation Alert: Over 30K BTC Flow Into Bitcoin HODL Wallets.

What Are Accumulation Addresses?

These wallets have never moved a single satoshi out. They hold at least 10 BTC, aren’t linked to exchanges, and are either individual or institutional investors. Each has received funds at least twice and has been active at least once in the past 7 years. These are the real “diamond hands” of the Bitcoin network.

Biggest Inflow of 2025 Just Happened!

On June 11, 2025, a total of 30,784 BTC flowed into these accumulation wallets.

The dollar equivalent? A jaw-dropping $3.3 billion.

After this spike, the total BTC held by accumulation addresses hit 2.91 million BTC. Their average entry price now sits around $64,000.

💬 Still Buying at ATH?

Apparently, Yes.

Even near all-time highs, whales are still stacking. If these long-term players are this confident, what does that say about the market’s direction?

Maybe the real question is: Are you accumulating or just spectating?

Written by burakkesmeci

Recent on-chain data reveals a significant withdrawal of stablecoins from derivative exchanges, coupled with a notable divergence between Bitcoin's price and Binance's Open Interest.

These converging signals suggest a cautious outlook for Bitcoin in the immediate term

Divergence Between Bitcoin Price and Binance Open Interest:

This divergence is technically significant:

* Bitcoin recently retested its all-time high of $110,000 (last seen on May 27), but Binance Open Interest (OI) failed to reach its previous peak from late May.

* This divergence suggests that while price momentum remains strong, futures market participation (OI) is weakening

Massive Stablecoin Withdrawals from Derivative Exchanges:

* over $750 million worth of stablecoins have been withdrawn from derivatives exchanges—a significant movement that closely mirrors a similar large-scale withdrawal that occurred on May 29, 2025, also valued at approximately $750 million.

* Such synchronized outflows are often indicative of capital rotation or strategic shifts in trader behavior, and when they appear near market highs, they may also reflect hedging or de-risking activity.

Conclusion :.

As Bitcoin hovers near the key psychological level of $110,000, the lack of confirmation from Binance OI, coupled with a repeat of large stablecoin outflows from derivatives platforms, raises the probability of a short-term pullback.

This does not necessarily invalidate the broader bullish structure. Rather, it suggests that a healthy retracement or consolidation may be needed before BTC can sustainably break above $110K and target new all-time highs.

Written by Amr Taha

After another dip into negative territory, BTC's funding rate has once again reversed upward—mirroring the pattern observed in previous instances this year. Just like the last few times, the 72-hour MA/EMA/WMA turned back from the oversold zone (blue highlighted area), now supported by a clear yellow-blue-black signal pattern. Historically, this setup has preceded strong price recoveries, and the current bounce may suggest another wave of position unwinding from over-leveraged shorts. With funding still below the "TOO-BUY" zone, this could signal that derivatives sentiment hasn't overheated yet, leaving room for further upside.

Written by nino

In the spot market, where liquidity flows, the game follows.

This chart gives us one key insight: How much of the pie does Binance control?

If Binance’s spot volume share is increasing: Big players are back. Liquidity is deep, trades are smoother, and price action is healthier.

But if Binance drops below 30%, that's a red flag.

It might signal that capital is moving elsewhere (Coinbase, Upbit, etc.), and we may be entering a more fragmented market. That usually means more unpredictable and sharper price swings.

🟠 What does the current chart tell us?

Binance is regaining dominance. This signals that investor trust is still strong, and it's a good sign for the bulls.

Written by burakkesmeci

Is TRX cheap or hot? The Sharpe Ratio has the answer.

What is the Sharpe Ratio Telling Us About TRX?

The Sharpe Ratio measures risk-adjusted returns. Historically, the 1.00 level has acted as a critical pivot point for TRX. When the metric stays above 1, price action tends to be bullish. Below 1, bears usually take control.

Can It Help Identify Local Tops?

Absolutely. Whenever the Adjusted Sharpe Ratio climbs above 40, it often signals a market that's overheating. In the past, readings over 40 have lined up well with local tops.

Current Status

The current Adjusted Sharpe Ratio for TRX is 8.3, and price is around $0.29. Since the ratio dipped below 1 not long ago, we can interpret this as a “still cheap” zone — meaning we're far from overheating.

Conclusion

With TRX’s Sharpe Ratio still far from historical peaks, the data suggests there's plenty of upside room for a potential bull run in 2025.

Written by burakkesmeci

Stablecoins are becoming a key part of crypto adoption. Among them, $USDT leads the way, and its largest network (TRON) is setting new records. In May alone, $694.54 billion worth of USDT was transferred on TRON. That’s an all-time high (ATH).

Let’s dig in 🧵

2/ Whales dominate the activity.

~59% of May’s USDT volume on TRON came from transactions over $1M. That’s $411.2B in large transfers alone.

3/ TRON now holds the most stablecoins across all chains.

Here’s the current stablecoin breakdown:

- USDT (TRC-20): $75.7B

- USDT (ERC-20): $71.4B

- USDT (Other): $4.1B

- USDC (All chains): $60.6B

4/ $1B+ mints are becoming common.

So far in 2025, there have been 17 mints of $1B+ USDT on TRON (TRC-20). And we’re only halfway through the year.

5/ The TRON network is also seeing the impact of USDT’s growth. It has now processed over 10.5 billion transactions, reflecting its increasing on-chain activity.

Written by maartunn