{"id":36070,"date":"2026-02-17T14:30:08","date_gmt":"2026-02-17T14:30:08","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=36070"},"modified":"2026-02-17T14:30:08","modified_gmt":"2026-02-17T14:30:08","slug":"bitcoin-whales-flood-binance-as-correction-deepens-on-chain-data-shows","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=36070","title":{"rendered":"Bitcoin Whales Flood Binance As Correction Deepens: On-Chain Data Shows"},"content":{"rendered":"<p>Bitcoin\u2019s ongoing correction is pulling large holders back onto centralized venues, with CryptoQuant data showing a sharp jump in whale-dominated inflows to Binance. At the same time, derivatives positioning continues to unwind, reinforcing the picture of a market de-risking across both spot and futures.<\/p>\n<h2>Bitcoin Whale Share Of Inflows Spikes On Binance<\/h2>\n<p>CryptoQuant contributor Darkfost (@Darkfost_Coc) <a href=\"https:\/\/x.com\/Darkfost_Coc\/status\/2023593998410027344\" target=\"_blank\" rel=\"noopener nofollow\">said<\/a> Binance is seeing a notable rise in <a href=\"https:\/\/www.newsbtc.com\/news\/bitcoin\/bitcoin-whales-are-back-104k-btc-added-as-1m-transfers-surge\/\" target=\"_blank\" rel=\"noopener \">whale activity<\/a> as the drawdown pressures participants \u201cfrom retail participants to whales and even institutions.\u201d His focus was the \u201cwhale inflow ratio,\u201d a metric that compares BTC inflows from the 10 largest transactions against total exchange inflows, smoothed using a weekly average to reduce the impact of one-off transfers.<\/p>\n<p>\u201cAccording to the whale inflow ratio, we are seeing a clear surge in whale activity on Binance, reflecting a specific dynamic in the market,\u201d Darkfost wrote. \u201cThis ratio is calculated by comparing BTC inflows from the 10 largest transactions to total inflows. Using a weekly average helps reveal a clearer trend, filtering out noise from isolated, exceptional transactions.\u201d<\/p>\n<p>Between Feb. 2 and Feb. 15, Darkfost said the ratio rose from 0.4 to 0.62, implying that a larger share of inbound BTC to Binance is now coming from a small set of large transfers. While the metric doesn\u2019t prove intent, a higher concentration of whale inflows is often read as an increase in potential sell-side supply sitting on exchange order books, particularly during risk-off stretches.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-882417\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/02\/HBUBfrxWAAAtFjP.jpg?resize=1024%2C576\" alt=\"Bitcoin whale inflow ratio (Binance)\" width=\"1024\" height=\"576\" loading=\"lazy\" \/><\/p>\n<p>\u201cIt is important to note, however, that this reflects an increase in their share of inflows, which can be interpreted as rising sell-side pressure in the market,\u201d he added.<\/p>\n<p>Darkfost also flagged that some of the activity may be linked to a specific entity. \u201cPart of these inflows can be attributed to a well-known whale, believed to be Garrett Jin. Nicknamed 19D5 or \u2018the Hyperunit whale,\u2019 this whale has been particularly active on Binance recently, moving close to 10,000 BTC onto the platform.\u201d<\/p>\n<p>He framed the broader context as a liquidity and venue-choice story rather than a single wallet-driven anomaly, arguing that multiple whales have been sending \u201csignificant amounts of BTC\u201d to Binance, aided by its depth while uncertainty pushes investors to reassess exposure.<\/p>\n<h2>Derivatives Unwind Adds To Pressure<\/h2>\n<p>In a separate post, Darkfost argued the derivatives market contraction that followed the cycle\u2019s top remains a central feature of the current tape. \u201cAnalyzing Bitcoin <a href=\"https:\/\/www.newsbtc.com\/bitcoin-news\/bitcoin-futures-flush-31-of-open-interest\/\" target=\"_blank\" rel=\"noopener \">open interest<\/a> across exchanges highlights how severely the derivatives market has contracted since the last all time high and the October 10 sell off,\u201d he wrote, adding that speculation \u201creached unprecedented levels.\u201d<\/p>\n<p>He pointed to prior peaks in BTC-denominated open interest on Binance: 94,300 BTC after the November 2021 peak versus 120,000 BTC at the October 2025 market top and said aggregate open interest across all exchanges rose from 221,000 BTC in April 2024 to 381,000 BTC at the cycle peak.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-882416\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/02\/HBTf6g-XYAAgAyf.jpg?resize=1024%2C576\" alt=\"Bitcoin open interest 30 day change\" width=\"1024\" height=\"576\" \/><\/p>\n<p>Since that top, he said open interest has fallen in almost every month, including a sharp <a href=\"https:\/\/www.newsbtc.com\/binance\/binance-co-ceo-breaks-silence-provides-insight-on-october-10-liquidation-event\/\" target=\"_blank\" rel=\"noopener \">Oct. 6\u2013Oct. 11 drawdown<\/a> when Binance open interest dropped 20.8%, while Bybit and Gate.io each posted 37% declines. The contraction has continued, with Binance down another 39.3%, Bybit down 33%, and BitMEX down 24%, according to Darkfost.<\/p>\n<p>His takeaway is that the market is still in a risk-reduction phase, whether voluntary or forced by liquidations amid volatility. \u201cOverall, this environment indicates that investors are actively reducing exposure, cutting risk, or being forced out through liquidations driven by ongoing volatility,\u201d he wrote. \u201cUnder these conditions, it is difficult to envision Bitcoin stabilizing sustainably and reigniting a bullish trend in the short term.\u201d<\/p>\n<p>At press time, BTC traded at $67,823.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-882425\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/02\/BTCUSDT_2026-02-17_11-57-19.png?resize=1024%2C499\" alt=\"Bitcoin price chart\" width=\"1024\" height=\"499\" \/><\/p>","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s ongoing correction is pulling large holders back onto centralized venues, with CryptoQuant data showing a sharp jump in whale-dominated inflows to Binance. At the same time, derivatives positioning continues to unwind, reinforcing the picture of a market de-risking across both spot and futures. Bitcoin Whale Share Of Inflows Spikes On Binance CryptoQuant contributor Darkfost [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":36071,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[53,45],"tags":[],"class_list":{"0":"post-36070","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-binance","8":"category-bitcoin"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bitcoin Whales Flood Binance As Correction Deepens: On-Chain Data Shows - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=36070\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Whales Flood Binance As Correction Deepens: On-Chain Data Shows - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"Bitcoin\u2019s ongoing correction is pulling large holders back onto centralized venues, with CryptoQuant data showing a sharp jump in whale-dominated inflows to Binance. 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