[Analysis] "Bitcoin shows signs of market fatigue building…large holders increasingly moving to sell"

An analysis suggests that as Bitcoin (BTC) remains in a prolonged correction phase, the activity of large holders is becoming more pronounced.

On the 15th (local time), Darkfost, a contributor to CryptoQuant, said based on on-chain data that “as fatigue across the market increases, signs are emerging that even large holders are moving to manage risk and reallocate capital.”

According to the analysis, large-scale Bitcoin inflows to Binance have risen recently. In particular, transactions in the 1,000–10,000 BTC range accounted for an overwhelming 74% of total inflows. While this is a natural development given the exchange’s liquidity and market depth, which are advantageous for executing large orders, it also suggests that large holders are actively adjusting their positions. Two days ago, mid-sized transactions in the 100–1,000 BTC range also surged, making up 43% of total inflows.

This rise in large inflows implies the possibility of mounting potential selling pressure. However, Bitcoin’s price has remained relatively stable in recent weeks. That indicates a certain level of demand is absorbing the inflows, though that demand is still viewed as not yet strong.

Darkfost warned that “the current situation is a phase that requires close monitoring,” adding that “if selling pressure from large investors persists without a recovery in demand, it could weigh on market structure over the medium to long term.”