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CryptoQuant Quicktake
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Reading the Binance Data: Why Whale Inflows Could Matter for Bitcoin Price
📰 Daily Market Update:
Recent on-chain and exchange data are starting to paint a more cautious picture for Bitcoin price
📊 [BTC] Binance Inflows by Trader Size
This chart tracks the 7-day avg daily BTC inflows into Binance, segmented by trader size (Retail, Mid-size, and Whales).
🔬 Key Observation
📈 On Feb 8, the 7-day avg whale inflow exceeded 1,970 BTC.
📈 This is significantly higher than the previous three major inflow events during October, November, and December, where inflows barely crossed 400 BTC.
⏲️ Importantly, those earlier inflow events coincided with a local market top, after Bitcoin reached nearly $124,000 in mid-October, followed by a sustained price correction.
📊 USDT: Total Mint and Burn on Tron / Ethereum
This chart shows the total USDT minting and burning activity across (TRC20) and (ERC20) networks.
Quick reminder:
💰 Mint = new USDT created → adds liquidity (generally bullish)
🔥 Burn = USDT destroyed → removes liquidity (generally bearish)
🔬 Key Observation
🔥 On Feb 9, a massive $3.5B USDT burn on Ethereum was recorded.
🔥 On January 20, $3B worth of USDT was burned on Ethereum, which was followed by BTC drop from over $90k to under $67k by February 6.
💸 Such large burns signal liquidity leaving the system, often adding downside pressure.
📊 Whales Screener
This model tracks netflows of BTC, ETH, and stablecoins across 100+ whale wallets.
📈 On Feb 4, 5, and 7, sharp spikes in BTC net inflows to spot exchanges were observed (orange arrows).
📈 Each day saw inflows between $650M → $850M.
Consistent whale deposits of this scale usually reflect distribution behavior.
🧠 Final Conclusion
⏲️ The alignment of whale inflows to spot CEX, USDT burn event, and repeated whale netflows points to a cautious market.
Whales appear to be reducing exposure, while stablecoin liquidity is leaving the system. Historically, this combination has not been bullish—it often signals profit‑taking and lower risk appetite.
Written by Amr Taha
Recent on-chain and exchange data are starting to paint a more cautious picture for Bitcoin price
📊 [BTC] Binance Inflows by Trader Size
This chart tracks the 7-day avg daily BTC inflows into Binance, segmented by trader size (Retail, Mid-size, and Whales).
🔬 Key Observation
📈 On Feb 8, the 7-day avg whale inflow exceeded 1,970 BTC.
📈 This is significantly higher than the previous three major inflow events during October, November, and December, where inflows barely crossed 400 BTC.
⏲️ Importantly, those earlier inflow events coincided with a local market top, after Bitcoin reached nearly $124,000 in mid-October, followed by a sustained price correction.
📊 USDT: Total Mint and Burn on Tron / Ethereum
This chart shows the total USDT minting and burning activity across (TRC20) and (ERC20) networks.
Quick reminder:
💰 Mint = new USDT created → adds liquidity (generally bullish)
🔥 Burn = USDT destroyed → removes liquidity (generally bearish)
🔬 Key Observation
🔥 On Feb 9, a massive $3.5B USDT burn on Ethereum was recorded.
🔥 On January 20, $3B worth of USDT was burned on Ethereum, which was followed by BTC drop from over $90k to under $67k by February 6.
💸 Such large burns signal liquidity leaving the system, often adding downside pressure.
📊 Whales Screener
This model tracks netflows of BTC, ETH, and stablecoins across 100+ whale wallets.
📈 On Feb 4, 5, and 7, sharp spikes in BTC net inflows to spot exchanges were observed (orange arrows).
📈 Each day saw inflows between $650M → $850M.
Consistent whale deposits of this scale usually reflect distribution behavior.
🧠 Final Conclusion
⏲️ The alignment of whale inflows to spot CEX, USDT burn event, and repeated whale netflows points to a cautious market.
Whales appear to be reducing exposure, while stablecoin liquidity is leaving the system. Historically, this combination has not been bullish—it often signals profit‑taking and lower risk appetite.
Written by Amr Taha
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
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