This week, Bitcoin staged a strong comeback, trading near $85,000 after dipping below $74,000 last Monday. 

Despite market turbulence driven by new tariffs introduced by the Trump administration and a subsequent 90-day pause, data shows that Binance whales are staying calm in the face of ongoing macroeconomic uncertainty.

Binance Whales Remain Unshaken

According to the latest CryptoQuant report, the Binance whale ratio — a metric comparing the top 10 largest inflows to total inflows — shows a steady increase in the 365-day moving average. This indicates that whale activity in Bitcoin has grown over time, especially during bullish phases.

However, the 30-day moving average reflects a short-term decline in whale activity, returning to levels last seen in September–October 2024. While whale participation remains significant, this drop could suggest a weakening in short-term selling pressure.

Another indicator, the Binance Whale to Exchange Flow, tracks the 30-day cumulative value of whale inflows. The data shows a notable decline of over $3 billion — a drop comparable to previous corrections in 2024. This suggests whales are less inclined to sell aggressively and are instead choosing to hold their positions.

Taken together, CryptoQuant’s analysis points to a lack of panic among Binance whales, who seem to be consolidating their holdings rather than capitulating. This trend may reflect a cautious optimism or a strategic pause amid broader market volatility.

US Institutional Investors Exit Bitcoin ETFs

The same cannot be said for US institutional investors. Market sentiment in the US has been shaken by trade tensions following Trump’s tariff plans, triggering a significant wave of capital outflows from spot Bitcoin ETFs last week.

According to SoSo Value, from April 7 to 11, institutional investors withdrew a total of $713 million from Bitcoin funds. The largest outflow came from BlackRock’s IBIT fund, which saw net withdrawals of $343 million — nearly half of the total.

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