Bitcoin’s June correction is now being accompanied by a sharp rise in whale deposits to Binance, according to CryptoQuant analyst Darkfost, reviving a pattern last seen during the market’s February stress event. The data suggests that large holders are moving more BTC back onto the exchange as the selloff deepens, potentially adding near-term supply pressure.
“On Binance, BTC inflows from whales have accelerated sharply,” Darkfost wrote, pointing to the June 2 and June 4 peaks. “On a longer-term basis, the monthly average of whale inflows on Binance has moved from approximately 1,200 BTC since mid-April to over 2,800 BTC today, more than doubling within a matter of weeks.”
Bitcoin Whale Deposits Point To Rising Sell-Side Risk Darkfost framed the current increase in that context. “This dynamic suggests that the ongoing correction is pushing some whales to move their BTC back onto the exchange, presumably with the intention of selling,” the analyst wrote. “This behavior looks more like emotional risk management than a deliberate strategic decision.”
Bitcoin was trading near $62,533 at the time of writing, after an intraday low of $61,407 and high of $64,380. That puts the market close to the levels referenced in Darkfost’s comparison with February, when whale inflow activity on Binance last reached a similar intensity during Bitcoin’s drop to $60,000.
February Comparison Raises The Key QuestionThe February reference is the central point of the analysis. Darkfost noted that the last comparable surge in Binance whale inflows came as Bitcoin fell below $60,000 earlier this year. In that case, the elevated inflows reflected stress after a sharp drawdown rather than an early warning signal ahead of the full move.
“For reference, the last time whale inflow activity on Binance reached such levels was during Bitcoin’s drop below $60,000 in early February,” the analyst wrote. “This development introduces additional selling pressure in the short term. That said, panic-driven moves of this kind tend to arrive well after the fact, as was the case in February.”
At press time, BTC traded at $62,332.
