Whale BTC inflows jump on Binance, hinting at potential sell pressure as the market faces ongoing corrections.
Garrett Jin, aka “the Hyperunit whale,” moved ~10,000 BTC, showing large investors are actively reshaping positions.
Bitcoin derivatives contracts shrink, reflecting risk reduction as investors adjust amid high volatility.
Bitcoin is feeling the heat as big investors, or “whales,” start moving more coins onto Binance. Between February 2 and 15, the share of large Bitcoin transactions on the exchange jumped from 40% to 62%. This sharp increase shows that whales are becoming more active during the current market dip. In simple terms, it likely means these big players are preparing to sell, adding pressure on the market.
CryptoQuant analyst who goes by the name Darkfost emphasized that this spike tests all investors, from retail traders to institutions. He explained, “This correction is testing all types of investors, from retail participants to whales and even institutions.”
The ratio measures the share of BTC inflows from the 10 largest transactions compared to total inflows. Using a weekly average helps filter out unusual, isolated transactions, showing a clearer market trend.
A significant portion of these whale inflows appears linked to Garrett Jin, also known as 19D5 or “the Hyperunit whale.” Darkfost reported that Jin moved close to 10,000 BTC onto Binance recently. Besides Jin, several other whales have increased their inflows, attracted by Binance’s deep liquidity and uncertain market conditions. Consequently, investors seem to be reassessing exposure and strategy amid heightened volatility.
Derivatives Market Contraction
The surge coincides with a broader contraction in the derivatives market. Darkfost noted, “Analyzing Bitcoin open interest across exchanges highlights how severely the derivatives market has contracted since the last all-time high and the October 10 sell off.”
Binance’s open interest dropped 20.8% between October 6–11, while Bybit and Gate.io saw 37% declines. Since the cycle peak, Binance, Bybit, and BitMEX continued posting notable monthly drops in open interest, reflecting ongoing risk reduction.
Overall, this environment shows investors actively reducing exposure, cutting risk, or facing forced liquidations amid volatility. Darkfost summarized, “Under these conditions, it is difficult to envision Bitcoin stabilizing sustainably and reigniting a bullish trend in the short term.” Moreover, the coordinated whale inflows suggest that larger investors may anticipate further price pressure, influencing retail sentiment as well.
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