Bitcoin Whales Hold Strong, Avoiding Sales as Price Surpasses $100,000

Coin WorldWednesday, Jun 11, 2025 3:43 pm ET
2min read

Cryptocurrency analytics firm CryptoQuant has provided a detailed assessment of the current state of Bitcoin, focusing on the behavior of whales on the Binance exchange. According to the firm’s analysts, Bitcoin has demonstrated its resilience by maintaining a price above $100,000, a significant milestone that reflects the market's confidence in the cryptocurrency.

Historically, when Bitcoin approaches or surpasses its all-time highs, Binance whales tend to transfer large amounts of BTC to the exchange to secure profits. This behavior is typically marked by sharp increases in inflow volumes to the exchange. For instance, during the peak period in early 2024, Binance witnessed over $5.3 billion in BTC inflows. In previous cycle peaks, these figures reached $8.45 billion and $7.24 billion. Such large inflows are usually followed by short- or medium-term corrections in the market.

However, the current situation presents a different scenario. The latest data indicates that BTC inflows to Binance are only around $3 billion, and this figure continues to decrease. This trend suggests that whales are currently avoiding selling and are holding onto their Bitcoins in anticipation of higher profits. This behavior is a significant departure from previous patterns and signals a bullish trend in the market.

CryptoQuant analysts emphasize the importance of this shift in whale behavior. They argue that the current stance of Binance whales, who are not selling their holdings, clearly signals a bullish trend. This attitude should not be ignored, as the actions of these large investors can have a substantial impact on the market.

In addition to the behavior of Binance whales, the analysis also highlights several significant transactions that indicate potential shifts in market sentiment. One notable transaction involved a long-inactive Bitcoin whale that reentered the market, acquiring 250 BTC valued at $26.37 million. This move marks the whale's first significant activity in a considerable period, suggesting a bullish outlook. Such large-scale transactions often influence market dynamics, as they can either stabilize or drive prices depending on the direction of the trade.

The analysis also notes the sustained institutional buying and cautious investor positioning ahead of key economic data releases. Investors are closely monitoring the upcoming Consumer Price Index (CPI) report, which is expected to show core inflation rising by 0.3% and headline inflation at 2.4% year-over-year. This data could significantly impact the Federal Reserve's interest rate decisions, potentially influencing Bitcoin's price trajectory.

Market analysts suggest that the current rally in Bitcoin is more structurally driven than speculative, with institutional capital, ETFs, and corporate treasuries playing a significant role. This structural support is evident in the actions of major corporations like Strategy, which now holds 582,000 BTC, and Japan’s Metaplanet, which plans to raise $5.4 billion to expand its Bitcoin reserves. These moves indicate a growing institutional interest in Bitcoin, which could sustain its price momentum.

However, analysts also caution about potential risks. Regulatory reversals, liquidity shortages, or competitive flows into other digital assets like Ethereum or Solana could put a ceiling on Bitcoin's upside potential. Additionally, if profit-taking picks up or the Federal Reserve signals a slower path to rate cuts, government bonds could regain appeal, posing a potential headwind for crypto prices.

Despite these risks, price targets from firms including

and VanEck range from $180,000 to $200,000 by year-end, assuming continued inflows and easing macro conditions persist. These targets reflect a bullish outlook, driven by the increasing institutional adoption and supportive macroeconomic signals. The analysis underscores the importance of monitoring whale behavior and economic indicators to gauge the future direction of Bitcoin's price.