An analyst on the platform highlighted three on-chain signals that suggest more BTC is becoming available on exchanges while spot demand is no longer strong enough to absorb it cleanly. First, Binance’s Whale Inflow Ratio has risen sharply, briefly approaching 0.60. That means large wallets now account for a meaningful share of the Bitcoin flowing onto the exchange. These deposits do not automatically equal selling, but they do increase the pool of coins that can be sold or used for hedging. Second, exchange reserves have turned higher. After declining for most of 2025 and early 2026, reserves bottomed near 2.67 million $BTC in May and have since climbed back to roughly 2.73 million BTC. The long multi-year trend of Bitcoin leaving exchanges appears to be softening. Third, the 90-day Spot Taker CVD has moved from clearly Buy Dominant to Neutral. Aggressive spot buyers are no longer consistently overpowering the market the way they were in April and May. The core issue is not simply whether whales are dumping. It is whether there is enough genuine spot demand to absorb the additional supply now sitting on exchanges. If whale inflows stay elevated, reserves continue rising, and Spot Taker CVD flips to Sell Dominant, the downside pressure could become more pronounced. The structure is changing. The question is whether demand can keep up. #BTC Price Analysis# #Meme Alpha# #Altcoin Season#