CryptoQuant: Bitcoin whale inflows to Binance halved in December
TL;DR
Bitcoin whale inflows to Binance dropped 50% in December, from $7.88 billion to $3.86 billion, suggesting reduced selling pressure and short-term market support.
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[CryptoQuant: Bitcoin Whale Inflows to Binance Halved in December] According to Mars Finance, CryptoQuant analysis indicates a significant drop in Bitcoin whale inflows to Binance, plummeting from approximately $7.88 billion to $3.86 billion, a decrease of 50%. Despite the overall downward trend, some large transactions still occurred, including a single $466 million whale inflow. Analysts believe that reduced large-scale deposits typically indicate less selling pressure, providing short-term market support. As the exchange with the largest inflows, Binance's whale activity is considered a key indicator of market sentiment.