Overview
- On-chain data tracked by Darkfost shows monthly large-holder inflows to Binance fell from about $7.88 billion to $3.86 billion over December.
- The pullback in exchange deposits suggests fewer big holders are preparing to sell immediately, reducing near-term supply on the market’s largest venue.
- U.S. spot Bitcoin ETFs saw a net outflow day on December 23, yet on-chain flows did not show a concurrent rise in large exchange deposits.
- Despite the slowdown, isolated spikes persisted, including roughly $466 million from 100–10,000 BTC wallets and more than $435 million from the 1,000–10,000 BTC cohort.
- Bitcoin traded near $87,000 as downside momentum indicators eased, and CryptoQuant noted realized losses from newer whales have flattened since the recent low.