On-chain data reveals a significant slowdown in Bitcoin whale deposits to the Binance exchange at the start of 2026, signaling a potential shift in market dynamics. In January, large holders transferred approximately 15,800 BTC to Binance, a sharp 42.5% decline from the 37,133 BTC deposited in December 2025.
The reduction in whale activity suggests a more cautious, wait-and-see strategy among major Bitcoin holders, despite the cryptocurrency's price recovery to around $95,449.56. This slowdown in inflows is interpreted by analysts as a factor that could reduce short-term selling pressure on Bitcoin, potentially contributing to greater price stability. The financial scale of the drop is substantial, with BTC inflows falling from an estimated $7.88 billion in December to $3.86 billion in January.
Interestingly, while the volume of deposits has decreased, the average deposit size has increased, with mean transfers now exceeding 20 BTC. This indicates that while fewer whales are moving funds, those who do are transferring larger amounts. Binance CEO Richard Teng commented on broader Bitcoin volatility, noting it "aligns with global market patterns," though he did not specifically address the whale deposit trend.
The decline mirrors historical patterns, such as a similar halving of BTC inflows observed in December 2026. The current slowdown coincides with Bitcoin's recovery from a downturn after reaching a high of $126,000 in October 2025, yet it has not triggered a rush to sell among whales. Retail investor sentiment, however, remains bearish, contributing less to overall exchange inflows compared to whale activity.
