Bitcoin Holds Strong as Whales Absorb Binance Retail Selling
Main Idea
Bitcoin remains resilient as large investors (whales) absorb selling pressure from retail traders on Binance, with key indicators suggesting a balanced but fragile market.
Key Points
1. Whales withdrew over $600M in BTC and ETH from exchanges, indicating strong accumulation, while retail traders sold aggressively, with inflows to exchanges surging from $12B to $16B in 30 days.
2. Binance’s Net Taker Volume turned negative, reflecting retail selling into strength, a trend seen previously when BTC surged from $78K to $111K in April 2025.
3. BTC price analysis shows a fragile but balanced market: RSI cooled to 63.11 (still bullish), MACD hints at a pullback, and Bollinger Bands suggest a breakout toward $123.5K if $114.8K holds, or a drop to $106K if it fails.
4. Spot Bitcoin ETFs saw a resurgence in net inflows, though minor profit-taking is evident via a slight dip in ETF MVRV.
Description
Retail inflows to Binance surged to $16B, indicating widespread Bitcoin profit-taking. Whales withdrew over $600M in BTC and ETH from exchanges, signaling strong accumulation. Glassnode data shows strong ETF inflows and institutional demand despite cooling profitability. Bitcoin (BTC) hovers around $117,000 after recently tapping a new all-time high, but beneath this calm surface, analyst and trader Amr Taha brought to light a telling shift in leading crypto exchange Binance’s retail behavior. R...
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