Over $44 million in short positions were wiped out on Binance in a single hour Monday — the largest one-hour short liquidation since February 6 — yet the price surge it helped trigger drew little enthusiasm from actual buyers.
Futures Chaos, Not Fresh Money, Lifted BTCBitcoin climbed to a weekly high of $71,801 on Binance during the US market session, pushed higher largely by forced closures of short positions rather than new capital entering the market.
That September figure itself came during a period widely characterized as a bear market. Exchange flow data tells a similar story: seven-day cumulative flows on Binance hit their lowest point since 2024, based on data reported by analyst Arab Chain.
Coinbase flows held relatively steady by comparison, suggesting longer-term holders are maintaining activity while shorter-term traders pull back.
One data point stands apart from the rest. A market analyst identified a record spike in what’s called whale inflow momentum — a measure of how fast large amounts of Bitcoin are being moved onto exchanges.
The current reading of 74 is higher than any point in the past 11 years. The last time it exceeded this level was in 2015, when it hit 124.
High whale inflows don’t automatically signal selling. But reports note the elevated pace points to aggressive capital rotation and hedging among large holders, which could make Bitcoin’s price more sensitive to short-term swings in the weeks ahead.
Featured image from zoranm/Men’s Health, chart from TradingView
