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No Euphoria in Bitcoin Markets but Warning Signs Are Starting to Appear (Analyst)
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No Euphoria in Bitcoin Markets but Warning Signs Are Starting to Appear (Analyst)
Jul 15, 2025 11:55 AM

Bitcoin’s record-setting rally may be nearing a crucial inflection point, with on-chain data showing an increase in large-scale Bitcoin deposits to Binance.

According to an expert at the on-chain analytics platform CryptoQuant, this could point to big-money investors possibly preparing for strategic exits or leveraged plays.

Whale Moves Signal Market Shift

BTC reached a new all-time high (ATH) above $123,000 on July 14, before retreating to the $117,000 neighborhood. This correction may appear modest on the surface, but deeper market signals suggest more turbulence could be ahead.

In a recent “quick take,” pseudonymous CQ analyst Crazzyblock noted that the Binance Whale Activity Score had spiked sharply following Bitcoins latest peak. And it isn’t a minor movement either; it represents a coordinated shift by major players.

According to him, approximately 1,800 BTC, worth more than $210 million at current rates, flowed into Binance deposits yesterday alone. Additionally, transactions exceeding $1 million accounted for over 35% of total Bitcoin inflows to the worlds largest exchange, confirming the presence of institutional-sized wallets.

Just as importantly, CryptoQuants age-band data showed that these arent coins from recent buyers, but rather older holdings from experienced, strategic investors re-entering the active market.

Given Binance’s status as the world’s largest crypto trading venue, commanding over 25% of global spot volume, such moves warrant closer scrutiny. It implies whales may be positioning assets on the most liquid platform to either secure profits after the historic run or to use the exchange’s deep derivatives markets for hedging and new positions amidst peak volatility.

Either way, the presence of this much sell-side pressure on the markets primary trading venue increases the risk of sharp price swings, wrote Crazzyblock. The smart money is moving, and their actions often precede significant market shifts.

Euphoria Yet to Kick In

Interestingly, this whale-driven shift is coming at a time when bullish sentiment is dominating headlines. Bitcoin’s rise to a new ATH triggered a wave of price forecasts, with some market watchers predicting the cryptocurrency could be changing hands at $200,000 each by year’s end.

However, behind the optimism lies a more measured market structure. CQ’s proprietary greed indicators remain in neutral territory, and the rHODL ratio sits at just 32%, indicating that broader retail participation still hasn’t materialized, an essential ingredient for true market euphoria.

The latest price movements hint at this brewing tension, with the asset seemingly stepping back from the heat of its last breakout.

Data from CoinGecko shows the number one cryptocurrency is trading at $117,496 at the time of this writing, down nearly 4% in the last 24 hours. Still, it’s up almost 9% for the week and 11.3% across the past month, outperforming legacy markets but falling just short of the broader crypto sector, which gained 9.2% over seven days.

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