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Bitcoin (BTC) large holders on the Binance exchange are sending a bullish signal to the broader cryptocurrency market. According to an update from CryptoQuant, an on-chain analytics platform, the volume of Bitcoin inflows from whales has dropped to about $3 billion.
Bitcoin whale pressure in spotlight
Notably, this is a bullish signal as it suggests that Bitcoin whales on the Binance exchange are massively accumulating the coin. This marks a shift from previous patterns, when whales sent Bitcoin to exchanges such as Binance when they plan to sell during periods of high price margin.
As of press time, the Bitcoin price was changing hands at $110,348.60, representing a 1.52% increase in the last 24 hours. This places BTC less than 2% away from flipping its all-time high (ATH) of $111,970 in May 2025.
Despite the spike in price, Bitcoin whales are not depositing on the Binance exchange, which implies that these large holders are not planning to sell just yet.
CryptoQuant is highlighting that with just a $3 billion inflow to the exchange, whales on Binance are holding onto their Bitcoin. This suggests that they anticipate further price increases in the current market rally of the leading digital currency.
Generally, when whales refuse to sell during periods of price spikes, it indicates huge confidence in the asset’s potential to record more gains. This development also places less downward pressure on price, which fuels the bullish rally even more.
Can Bitcoin price hit $120,000?
Interestingly, about 10 days before Bitcoin posted its current ATH of $111,970, Bitcoin whales moved $50 million worth of the coin from the Binance exchange. The bullish behavior might be in play again, but this time, whales are choosing to hold onto their coins.
With current market dynamics, Bitcoin has a high chance of setting a new ATH. The development has set the broader crypto space buzzing with predictions. Some expect Bitcoin to soar to a new high of $120,000 in the coming days.
Vladislav Sopov
U.Today Editorial Team