Bitcoin Flows to Binance Increase, Long-Term Holders Sell
A new report authored by analyst Crazzyblockk and published by CryptoQuant reveals a notable surge in Bitcoin inflows to Binance, driven largely by mid-sized holders known as “Fish” and “Sharks.” The analysis offers a deep dive into recent BTC movement patterns and suggests shifting dynamics among different investor classes amid Bitcoin’s strong price performance through April and May 2025.
Fish, Sharks, and Crabs Lead the Charge
The report highlights that wallets holding between 10–100 BTC (“Fish”) and 100–1,000 BTC (“Sharks”) have become the most active participants on Binance in recent weeks. These cohorts are often considered a mix of sophisticated retail investors and smaller institutional players. “Crab” wallets (1–10 BTC) also contributed to the inflows, signaling increased activity from active retail traders.
This group’s collective behavior suggests a growing reliance on Binance as a central hub for trading and liquidity, particularly among agile market participants who are reacting to short-term price signals and volatility.
Long-Term Holders Begin Realizing Gains
In addition to active traders, the data shows a sharp uptick in Bitcoin being moved to Binance by Long-Term Holders (LTHs)—wallets holding coins for more than 155 days. These inflow spikes are typically correlated with periods of price strength, suggesting that seasoned holders are taking profits or rebalancing portfolios as market conditions shift.
This development adds a new layer of market supply, often leading to near-term selling pressure and potential pauses in momentum.
Whales Stay on the Sidelines
Interestingly, the report notes that the largest Bitcoin holders—“Whales” (1,000–10,000 BTC) and “Humpbacks” (10,000+ BTC)—are not currently contributing to the inflow activity in any meaningful way. These entities, typically viewed as market movers, appear to be avoiding aggressive selling on public exchanges like Binance.
This restrained behavior may suggest several possibilities: large holders could be waiting for higher prices, holding firm on long-term theses, or choosing to utilize over-the-counter (OTC) desks for liquidity—thereby avoiding market impact and public signals.
Market Implications: Strategic Shifts, Not Panic Selling
The report offers a nuanced perspective: while Bitcoin inflows to Binance are rising, they are largely concentrated among mid-tier players and long-term investors seeking to capture gains—not from whales engaging in mass liquidation.
As such, the data paints a picture of a maturing market, where profit-taking is tactical, and large holders remain confident, potentially signaling continued upside after near-term consolidation.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
