Bitcoin Whales Actively Returning to Market: Latest Data from CryptoQuant

Buying sentiment for Bitcoin is gradually recovering, but smaller investors remain cautious while whales are aggressively returning to the market, according to an analysis.
According to the latest data from on-chain analysis platform CryptoQuant on the 12th (local time), the selling pressure from whales on Binance is gradually weakening.
On the same day, CryptoQuant contributor Darkfost revealed that the proportion of whales among the top 10 largest deposits coming into Binance was declining.
He also said, "Analyzing whale behavior provides important clues for predicting market direction," and added, "Binance is the exchange with the largest Bitcoin trading volume.
"Therefore, analyzing whale activity on Binance is useful for understanding the overall market flow," he explained. In fact, the percentage of whales on Binance (a large number on the exchange)
The percentage of transactions by Binance-backed investors (the percentage of transactions by BTC-USD investors) has been falling continuously since BTC/USD hit an all-time high in mid-January.
"Historically, when this ratio rises, it has tended to signal a short-term price correction or flat market, while when it falls it has tended to signal a bull market."
He added, "If this trend of declining selling pressure continues, it could signal an end to the current correction and a market rebound."