Bitcoin’s recent weakness may extend into March after a prominent on‑chain metric signaled renewed bearish pressure.
In a CryptoQuant Quicktake, analyst Arab Chain flagged a sharp rise in the Binance Whale To Exchange Flow, a 30‑day measure of bitcoin moved by large holders into Binance. The metric tracks sizable transfers into the exchange that can precede selling.
Arab Chain reported that whale inflows to Binance jumped to roughly $8.8 billion — a level not seen since early 2022. That surge took place while bitcoin was trading near $64,000 and suggests elevated activity among large holders.
Large transfers to exchanges often indicate intent to sell, and historically similar waves have come ahead of price corrections as major holders reposition. Arab Chain compared the current pattern to 2021, when exchange inflows foreshadowed a peak and a sharp pullback.
However, high exchange inflows are not a guaranteed bearish signal; in some cycles they coincided with short‑term volatility before renewed upside. The recent spike could also reflect portfolio reallocation or risk management at elevated prices rather than immediate liquidations.
At the time of writing, BTC trades around $67,960, up nearly 3% over the past 24 hours. Sources cited include CryptoQuant and TradingView; featured image credit to Shutterstock.