ChainCatcher reported that analyst Darkfost said Bitcoin has been in a correction phase since reaching a local peak of $82,700 in May. According to the analyst, the recent maximum cumulative decline has exceeded 28%. After Bitcoin fell below the $60,000 psychological threshold several days ago, that level renewed concerns among market participants, including whales.
Whale inflows to Binance climbed during the pullback
Darkfost said whale activity on Binance has risen significantly as the correction deepened. Daily inflows to the exchange exceeded 6,000 BTC several times, and in early June the figure reached a peak of more than 8,000 BTC. These movements show that large holders have been transferring more BTC to the trading platform during the recent decline.
Over the past month, whales transferred an average of 3,200 BTC per day to Binance. At the end of April, that average was only 1,200 BTC. The increase over just a few weeks was more than 160%. Darkfost believes this trend indicates that large holders have increased selling pressure during the recent downturn, or at least that their willingness to sell has become much stronger.
Large holders adjusted exposure under market pressure
Darkfost noted that whales are usually regarded as more rational BTC investors, but they are not fully immune to market pressure. After Bitcoin broke below $60,000, the exchange inflow figures showed a shift in the behavior of some large holders as they moved more coins onto Binance.
The analyst also said that, in an environment where macro and geopolitical uncertainty remains elevated, some whales have chosen to reduce exposure and close positions in order to preserve capital and reduce downside risk if market conditions deteriorate further. The increase in Binance inflows has therefore become one of the main data points for observing changes in whale behavior during this Bitcoin correction.