Binance Whales Split: 7,709 BTC In, Large Withdrawals
On-chain data from COINOTAG shows Binance whales are exhibiting divergent behavior around Bitcoin. Between August 13 and September 3, the exchange’s total BTC balance rose by 7,709 coins, driven by consistent deposits from mid-sized whales (transaction sizes $1M–$10M). Meanwhile, large whales (over $10M) registered net withdrawals, indicating contrasting selling pressure. ETH flows were even more pronounced: both whale cohorts withdrew, reducing Binance’s ETH balance by 1.616 million coins. These patterns suggest potential buying demand from mid-sized traders countered by large-scale sell-offs, impacting market liquidity and price stability. Traders should monitor on-chain stablecoin balances, whale segment activity, and net flows to gauge supply-demand shifts. This analysis underscores the importance of segmenting whale movements when assessing Bitcoin and Ethereum market sentiment.
Neutral
The split behavior among Binance whales presents mixed signals for Bitcoin. The net inflow of 7,709 BTC driven by mid-sized whales suggests underlying buying interest and potential price support. However, concurrent large whale withdrawals introduce selling pressure and increased supply risk. Historically, similar divergence—such as in early 2021 when mid-tier investors accumulated while large holders sold—led to sideways price action before a decisive breakout. In the short term, traders may see muted volatility as these opposing forces balance out. Over the longer term, persistent mid-sized accumulation against shrinking ETH reserves could fuel bullish momentum, but large whale activity remains a wildcard. Therefore, the overall market impact is neutral, pending clearer dominance of either buying or selling pressure.