According to CryptoQuant analyst Darkfost, Bitcoin’s June correction is now accompanied by a surge in whale deposits on Binance, restoring a pattern last seen during February’s market stress event. The data suggests huge holders are moving more BTC back into the exchange as the selloff deepens, potentially increasing near-term supply pressure.

Dark Fost he said Bitcoin fell 14% in June, and the decline has accelerated over the past few days. This move pushed some investors into a more defensive stance, especially huge entities moving significant amounts of BTC. In the analyst’s terms, whales are defined as entities making transactions worth more than 100 BTC, or more than $6 million at current prices.

The most evident change occurred on Binance. According to the post, the whale inflow to the exchange reached around 8,200 BTC on June 2, followed by over 6,400 BTC on June 4. More importantly, the trend has also changed on a monthly basis: the average whale inflow on Binance has increased from around 1,200 BTC in mid-April to over 2,800 BTC currently, which means that this number has more than doubled in a matter of weeks.

“On Binance, BTC inflows from whales have accelerated rapidly,” Darkfost wrote, pointing to the June 2 and 4 peaks. “Long term, the average monthly whale inflow on Binance has increased from around 1,200 BTC in mid-April to over 2,800 BTC today, more than doubling in a matter of weeks.”

Bitcoin Whale deposits indicate increasing risk on the sell side

Exchange proceeds do not mechanically prove that the coins have already been sold. However, huge transfers to trading venues are commonly viewed as an indicator of potential sell-side intent, particularly when they occur during a rapid correction rather than during a period of sideways accumulation or consolidation.

Darkfost framed the current growth in this context. “These dynamics suggest that the ongoing correction is pushing some whales to move their BTC back to the exchange, possibly with the intention of selling,” the analyst wrote. “This behavior is more like emotional risk management than a considered strategic decision.”

This distinction is critical for market interpretation. Strategic rebalancing usually means pre-planned execution, portfolio rotation or controlled exposure reduction. In turn, panic-driven currency inflows usually occur after price damage has already forced huge bondholders to reassess their risks. They can worsen short-term pressures, but can also occur behind schedule in the recovery sequence.

At the time of writing, Bitcoin was trading near $62,533, after an intraday low of $61,407 and a high of $64,380. This puts the market close to the levels indicated in the Darkfost comparison from February, when whale inflow activity on Binance last reached similar intensity during Bitcoin’s decline to $60,000.

February’s comparison raises a key question

The central point of the analysis is the February reference. Darkfost noted that the last comparable boost in whale inflows into Binance occurred when Bitcoin dropped below $60,000 earlier this year. In this case, increased inflows reflected stress following a pointed decline, rather than an early warning signal of a full-blown move.

“For comparison, the last time the whale inflow on Binance reached this level was when Bitcoin fell below $60,000 in early February,” the analyst wrote. “This change introduces additional selling pressure in the short term. That said, these types of panic-driven moves usually occur long after the fact, as was the case in February.”

At the time of publication, the price of BTC was $62,332.

Featured image created with DALL.E, chart from TradingView.com