Data: Analysts say that Bitcoin whales' deposits to Binance have doubled, accelerating the sell-off in June

CryptoQuant analyst Darkfost stated that Bitcoin has dropped 14% since June, with a noticeable acceleration in the recent pullback. The inflow of Bitcoin from whales (single transactions over 100 BTC) on the Binance platform has surged, recording a peak of about 8,200 BTC on June 2, followed by over 6,400 BTC on June 4. The monthly average of whale inflows on Binance has increased from about 1,200 BTC since mid-April to now over 2,800 BTC, more than doubling in a few weeks.

This indicates that the pullback is prompting whales to transfer BTC back to exchanges with the intention to sell, but this behavior seems more like emotional risk management rather than a strategic decision. The last time whale inflows reached such levels was in February when Bitcoin fell below $60,000, which will bring additional selling pressure in the short term.