Bitcoin faces whale selling warning as Binance ratio hits ATH

Bitcoin is trading near $76,000 as whale activity on Binance raises fresh caution. 

CryptoQuant analyst CryptoOnchain said Binance’s 100-day Bitcoin Exchange Whale Ratio has reached a record high. CryptoOnchain said the 100-day simple moving average of Bitcoin’s Exchange Whale Ratio on Binance hit 0.494. The reading marks an all-time high for the metric.

The Exchange Whale Ratio tracks the top 10 exchange inflows compared with total exchange inflows. A higher reading shows that large wallets are making up a bigger share of deposits.

Whale deposits signal selling pressure

The analyst said the record reading points to a long period of heavy whale deposits on Binance. These inflows may reflect selling, margin use, or other large exchange activity.

Bitcoin fell from a peak of $127,000 in October to $63,000 in February. It later recovered to around $76,000 by late April, but the elevated whale ratio remains a warning sign.

Meanwhile, Market analyst Ali Martinez pointed that Bitcoin is testing its Short-Term Holder Realized Price near $79,300. This level shows the average cost basis of investors who bought BTC in the past 155 days.

Bitcoin traded near $76,086 at the time of reporting, below that level. Ali said bulls need a sustained close above the $80,000 area to shift the structure.

A rejection could trigger selling from short-term holders trying to exit near break-even. He said such a move may open a retest of the macro floor near $65,000.

Fed policy adds liquidity pressure

XWIN Japan said Bitcoin also faces pressure from policy and liquidity conditions after the latest FOMC meeting. The Fed held rates, but its language showed inflation remains a concern.

Jerome Powell also addressed central bank independence, saying “central bank independence separates successful countries from unsuccessful ones.”

XWIN Japan said higher long-term yields, a stronger dollar, and delayed rate cuts could limit Bitcoin upside. The analyst added that Bitcoin needs fresh capital through ETF inflows or stablecoin growth to support a stronger rally.

According to crypto.news data, Bitcoin’s market cap stood near $1.52 trillion, with 20 million BTC in circulation. The asset was down 1.24% in 24 hours and 2.50% over the past week.