14 hour ago
1 0
Bitcoin Whale Deposits to Binance Halve in December, Easing Selling Pressure
Recent data indicates a decline in Bitcoin whale deposits to Binance, suggesting reduced selling pressure. Key points include:
- Bitcoin inflows from whales to Binance fell from $7.88 billion to $3.86 billion in December.
- This reduction implies less immediate sell-side supply on the market's largest exchange.
- While inflow reductions are a positive sign, sudden large transfers can still impact market volatility.
- Recent spikes included $466 million from 100-10,000 BTC cohorts and over $435 million from the 1,000-10,000 BTC range.
Additionally, CryptoQuant noted that realized losses from new whales have stabilized, alleviating some stress on the market. However, significant deposits by whales could still cause sharp price movements.
As of now, BTC is trading at $87,792.
