Digital Assets 1 Bitcoin whales hint at $80K 'market rebound' as Binance inflows cool

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Bitcoin (BTC) whales are back buying BTC while “panic” keeps smaller investors away, new research reports.
Data from onchain analytics platform CryptoQuant shows sell-side pressure from Binance whales cooling.

Bitcoin whales reset market approach

Bitcoin at $80,000 is proving attractive for large-volume investors — or at least a poor-value selling proposition for those wishing to exit the market.

In one of its “Quicktake” blog posts on March 12, CryptoQuant contributor Darkfost revealed that the proportion of the top ten largest inflows to Binance attributed to whales has fallen.

“Monitoring whale behavior has consistently provided valuable insights into potential market movements,” he summarized.

“Given that Binance handles the highest volumes, analyzing the Bitcoin exchange whale ratio on Binance provides a good insight into broader whale activity.”

Bitcoin exchange whale ratio (Binance). Source: CryptoQuant
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The exchange whale ratio has, in fact, exhibited a broad downtrend since mid-January when BTC/USD hit its latest all-time highs.

“Currently, this ratio is declining, implying that Binance's whales are reducing their selling pressure,” the post continues.

“Historically, an increasing ratio has been associated with short-term price corrections or consolidation phases, while a decreasing ratio has often preceded bullish trends. If this trend of diminishing selling pressure continues, it could help end the current correction and potentially signal a market rebound.”

As Cointelegraph reported, both whales and larger entities holding at least 10 BTC have begun to accumulate coins this month, albeit at modest rates.

Prospective BTC buyers “hesitant” at $80,000

Overall appetite for BTC exposure nonetheless remains suppressed.

Related: Bitcoin gets March 25 'blast-off date' as US dollar hits 4-month low

In the latest edition of its regular newsletter, “The Week Onchain,” analytics firm Glassnode pointed to lackluster demand at current prices.

It referenced capital flows by short-term holders (STHs) — speculative entities holding coins for up to six months. Within this cohort, buyers holding between one week and one month now have a lower cost basis than those holding for between one and three months.

“With Bitcoin prices dropping below $95k, this model also confirmed a transition into net capital outflows, as the 1w–1m cost basis fell below the 1m–3m cost basis,” researchers explained.

“This reversal indicates that macro uncertainty has spooked demand, reducing new inflows and arguably increasing the probability of further sell pressure and a prolonged correction. This transition suggests that new buyers are now hesitant to absorb sell-side pressure, reinforcing the shift from post-ATH euphoria into a more cautious market environment.”

Bitcoin STH capital inflows (screenshot). Source: Glassnode
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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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• Prospective BTC buyers “hesitant” at $80,000
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