Bitcoin News Today: Bitcoin Surges 10% Amid Whale Retreat and Stablecoin Inflows

Bitcoin has maintained its upward trajectory, currently trading at $117,847, marking a nearly 10% gain over the past week. Despite a recent pullback from its all-time high, which saw a 4.1% decline, investor sentiment remains robust. On-chain indicators suggest renewed buying interest and reduced selling pressure, contributing to the asset's bullish momentum.

Recent analysis from CryptoQuant’s QuickTake platform reveals significant shifts in the behavior of key Bitcoin holders and investors. The report, titled “Stablecoin Flood and Whale Retreat: Binance Moves Foreshadow Risk-On Sentiment,” highlights a notable decline in whale-level Bitcoin deposits on Binance. Over the past 30 days, these deposits have decreased from $6.75 billion to $4.5 billion, a reduction of $2.25 billion. Historically, large deposits from whales to centralized exchanges often signal an intention to sell. Therefore, the recent drop may indicate a reduction in immediate sell-side pressure, potentially stabilizing Bitcoin’s price in the short term, especially if whales continue to hold or move assets to cold storage.

Concurrently, stablecoin flows have surged across major exchanges. On July 16, Binance and HTX saw combined stablecoin inflows exceeding $1.7 billion. This influx suggests that large entities, possibly institutions or whales, are preparing to accumulate digital assets. Large stablecoin deposits often precede significant buying activity, indicating that the market could be poised for another upward movement, particularly if paired with reduced sell-side movements.

These on-chain activities are occurring against a backdrop of broader economic and political developments. Speculation around President Donald Trump’s comments during a private meeting, in which he reportedly considered replacing Federal Reserve Chair Jerome Powell, has sparked reactions in traditional markets. Though later denied, the remark led to a weaker dollar and rising bond yields, signaling a rotation into risk assets. This shift could benefit crypto markets as investors reallocate capital in anticipation of a more accommodative monetary stance.

Additionally, CryptoQuant analyst Arab Chain analyzed Bitcoin’s miner profitability using the Puell Multiple indicator. The data shows that while miners are currently making solid profits, the level has not reached historical peaks seen during prior market tops. In the 2017 and 2021 cycles, extreme miner profitability (indicated by Puell readings exceeding 2.0–3.0) often preceded sharp price corrections. At current levels, Arab Chain believes the market is not in a euphoric state, reducing the likelihood of imminent volatility due to miner-driven selloffs.