Analysts #CryptoQuant reported that the volumes of large bitcoin transactions (over 1 $BTC ) coming to the exchange #Binance have sharply declined. According to them, the annual average is currently around 6500 BTC — at the level of 2018.
In the short term, the situation looks even more pronounced. The average weekly volume of such transactions has decreased to 5200 BTC, which is one of the lowest levels in the current cycle, experts noted.
According to them, unlike previous cycles when the price of bitcoin growth was accompanied by an increase in activity of so-called wholecoiners (holders of more than 1 BTC), the current trend indicates a reverse trend. Flows to Binance from this category of addresses not only do not increase but, on the contrary, decrease.
In the opinion of analysts, this may indicate a reduction in selling pressure from large holders. Additionally, there is a decrease in the number of transactions over 1 BTC — likely due to the rising value of the asset, which makes it harder to buy a whole coin.
