On-chain data reveals a significant shift in whale behavior, with large holders moving approximately $2.4 billion worth of Bitcoin (BTC) and Ethereum (ETH) to the Binance exchange over the past week. This movement, which included $1.33 billion in Bitcoin and $1.07 billion in Ethereum, was not matched by fresh capital entering the market, as stablecoin net flows remained largely flat at around $42 million.
Analysts from CryptoOnchain highlighted that the average size of Bitcoin deposits increased substantially, rising from a range of 8–10 BTC earlier in the year to between 22 and 26 BTC recently. Concurrently, withdrawal activity from Binance declined, with outflow sizes dropping to a suppressed range of 5.5 to 8.3 BTC. "Large-scale accumulation and the movement of Bitcoin into cold storage have drastically decreased," noted CryptoOnchain, suggesting fewer investors are opting for long-term holding strategies.
This trend is viewed with concern, as large inflows to exchanges typically signal impending selling pressure, especially when not backed by new buying power. Linh Tran from CryptoOnchain linked these flows to a broader market correction, with Bitcoin having fallen about 35% from its 2025 peak of $126,000 to around $80,000.
In a separate but related event, a specific whale deposited 150 million SAHARA tokens (worth $4.2 million) into Binance after a 6-month dormancy. This move resulted in a realized loss of $7.97 million for the investor, who initially purchased the tokens for $12.1 million in July 2025. The SAHARA token, powering the Sahara AI decentralized network, has seen its price decline 222.68% from its September 2025 high.
While the SAHARA deposit has not immediately impacted its price—which is up 0.3% in 24 hours—it adds to the narrative of large holders moving assets to liquid exchanges. Analysts caution that if this pattern of exchange inflows without corresponding stablecoin demand continues, it could weigh on cryptocurrency prices in the short term.
