【Retail investors moved $10.75 billion to Binance, while whales pulled back】
$BTC held near $80,000, but retail investors and whales moved to different rhythms. Data from analyst Darkfost shows that the value of BTC transferred to Binance by retail investors over 30 days rose from $5.5 billion to $10.75 billion, while whale deposits fell from $5.9 billion at the end of August to $3.8 billion.
This could be a warning sign of selling pressure: potential supply for sale is increasing during the rebound. Retail investors may be taking profits as prices bounce, while whales have not shown the same willingness to transfer funds to exchanges. But transferring assets to an exchange doesn’t mean they’ve been sold, and whales depositing fewer coins doesn’t necessarily mean they’re buying the dip. Don’t treat on-chain data as a direct trading signal.
The market isn’t strong enough right now to ignore selling pressure: U.S. spot BTC ETFs saw combined net outflows of about $773 million last Thursday and Friday, and BTC briefly fell below $80,000 on Saturday, triggering widespread liquidations of long positions.
The key thing to watch next is whether spot buyers can absorb the new supply. If retail transfers remain high but prices hold steady, that suggests demand is holding up. If prices keep falling, this wave of retail investors “selling the rebound” could turn into even greater pressure.
$BTC held near $80,000, but retail investors and whales moved to different rhythms. Data from analyst Darkfost shows that the value of BTC transferred to Binance by retail investors over 30 days rose from $5.5 billion to $10.75 billion, while whale deposits fell from $5.9 billion at the end of August to $3.8 billion.
This could be a warning sign of selling pressure: potential supply for sale is increasing during the rebound. Retail investors may be taking profits as prices bounce, while whales have not shown the same willingness to transfer funds to exchanges. But transferring assets to an exchange doesn’t mean they’ve been sold, and whales depositing fewer coins doesn’t necessarily mean they’re buying the dip. Don’t treat on-chain data as a direct trading signal.
The market isn’t strong enough right now to ignore selling pressure: U.S. spot BTC ETFs saw combined net outflows of about $773 million last Thursday and Friday, and BTC briefly fell below $80,000 on Saturday, triggering widespread liquidations of long positions.
The key thing to watch next is whether spot buyers can absorb the new supply. If retail transfers remain high but prices hold steady, that suggests demand is holding up. If prices keep falling, this wave of retail investors “selling the rebound” could turn into even greater pressure.