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Analysis: Following a recent pullback, whale activity on the Binance platform has increased, with an average daily inflow of 3200 BTC over the past month.
  • BTC0%

BlockBeats News, June 15th - Analyst Darkfost stated that since Bitcoin hit a peak of $82,700 in May, it has now entered a correction phase, with the recent largest cumulative drop exceeding 28%. After breaking below the $60,000 psychological level a few days ago, this threshold has reignited concerns among market participants, including whales. As the pullback deepens, whale activity on the Binance platform has significantly increased - the daily platform inflow has exceeded 6,000 BTC multiple times, reaching a peak of over 8,000 BTC in early June. Over the past month, whales have on average transferred 3,200 BTC to Binance daily, compared to only 1,200 BTC at the end of April, marking an increase of over 160% in just a few weeks.

Darkfost believes that this trend indicates that a large number of holders have intensified selling pressure in the recent decline, or at least their willingness to sell has significantly increased. Although whales are usually seen as more rational BTC investors, they are not entirely immune to market pressure. In an environment where macro and geopolitical uncertainties remain high, some whales may choose to reduce their exposure, close positions to preserve capital, and mitigate the potential downside risk of further market deterioration.

Source: BlockBeats

Disclaimer: The current content is sourced from third-party perspectives or directly translated by AI from third-party perspectives. CoinEx does not guarantee the authenticity, accuracy, and originality of the content, and it does not constitute any investment advice from CoinEx. The prices of cryptocurrencies are highly volatile, please be aware of the potential risks.

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