In January, whales noticeably reduced the frequency of transferring funds to Binance after more active movements in December. At the beginning of 2026, about 15,800 BTC were deposited to the exchange, indicating a slowdown in deposit inflows.
Data from Binance shows that since the start of 2026, large holders have reduced their transfer activity on the platform. In December, whales sent a total of 37,133 BTC to the exchange. Now, deposit volumes on Binance are about 42.5% lower. This behavior may indicate a wait-and-see approach from major players.
At the same time, inflows from whales still exceeded deposits from retail investors, which increased the average transfer size on Binance. However, even large deposits can drop sharply if market sentiment changes. For now, indicators for BTC do not look overtly bullish, but may point to the formation of a market bottom.
Whale movements are closely monitored as a possible signal of a future BTC price recovery. The recent slowdown in inflows coincided with bitcoin rising above $97,000. Later, BTC pulled back to $95,449, while the market still awaits a return to the $100,000 level in the near future. The latest price rebound also did not lead to immediate selling, as holders were in no hurry to lock in profits at higher levels.
Whale Activity Drops, but Deposit Volumes Remain High
The average deposit volume on Binance remains close to historical highs. On average, a single transfer exceeds 20 BTC.
Whales account for about 20.85% of total inflows, but they have the greatest impact on deposit sizes. Large holders transfer about 2,200 BTC to the exchange daily. This is a moderate volume that the market can absorb without serious pressure.
Overall, deposits on Binance remain large in size, even though whales continue to hold their coins. In January, amid reduced activity from major players, the centralized exchange received about 2,200 BTC per day.
The average deposit volume on Binance remains high despite the drop in whale activity. Source: CryptoQuant
The latest activity indicates reduced selling pressure. Sentiment on BTC has returned to neutral amid traders’ actions, while bearish sentiment remains mainly among retail investors.
The December decline also coincided with a capital shift into stocks and precious metals. At the same time, liquidity did not leave crypto assets completely, which ultimately supported the price recovery.
Whale transfers may intensify again with sharper price movements. If BTC starts a new rally, deposits may be used to lock in profits. During downturns, large transfers also occur, but as a way to cut losses.
BTC Has Been Below Its All-Time High for 101 Days
The market correction has continued for 101 days since the all-time high above $126,000. The current market cycle took only 236 days to reach a new peak. Over the past three months, BTC has become noticeably more volatile, moving from highs to lows just below $80,000.
Historically, it takes three to six months for the market to restore liquidity after major liquidations. The market is still under the influence of the October downturn.
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Open interest in BTC has dropped again to $30 billion and has yet to show a sustained recovery. Market participants are still waiting for a clear direction rather than a prolonged phase in which both longs and shorts are liquidated.
At the current price range, more than 77% of the BTC supply is in profit. In November, this figure was 62%. The increase in the share of profitable coins may mean that some whales are ready to continue holding their assets, not rushing to sell.
