Key Insights:
- Bitcoin price dropped 28% in February as the Binance whale inflow ratio surged to 0.62, signaling sell pressure.
- Standard whale entities holding 1,000+ BTC fell from 1,296 to 1,285, showing distribution.
- Mega-whale addresses holding 10,000+ BTC rose from 85 to 89, absorbing supply and preventing collapse.
Bitcoin price dropped 28% over the past 30 days. That’s one of the worst monthly performances in recent history, and February still has a few more days to go. Whale inflows to Binance surged to the highest levels in months. The Whale Inflow Ratio hit 0.62 on the 7-day moving average.
Standard whale entities holding 1,000 BTC or more fell from 1,296 to 1,285 in just days. Everyone sees the distribution happening. But one whale cohort moved in the opposite direction, and no one paid attention.
Whale Inflows Surge to Highest Levels
The Whale Inflow Ratio spiked to 0.62 based on CryptoQuant data. That measures large BTC deposits to exchanges from top holders. A reading above 0.5 typically signals sell pressure building. The current 0.62 level hasn’t been seen since the last major correction.
Large holders are moving coins to exchanges during the price decline.
Notable single-whale transactions contributed to the surge. One whale moved approximately 10,000 BTC to Binance in a single transfer. These moves create immediate supply on exchanges. When whales deposit this aggressively, it usually precedes selling. The pattern played out exactly as expected, with Bitcoin price falling from $70,000 resistance to current levels near $67,000.
Standard whale entities controlling 1,000 BTC or more dropped dramatically. The count fell from 1,296 on February 16 to 1,285 currently.
That’s a loss of 11 whale entities in just days. Some consolidated addresses. Others distributed holdings completely. The drop confirms mid-tier and smaller whales are actively exiting positions, creating the 28% monthly decline.
Standard Bitcoin Whales Dump, But Mega-Whales Accumulate
Addresses holding 1,000 BTC or more remained relatively stable, ranging from 2,034 to 2,036. But the entity count falling while the address count stays flat tells an important story. Whales split holdings across multiple addresses or moved coins to exchanges. Either way, it signals distribution from this cohort. They’re not buying the dip. They’re creating the dip.
Mega-whale addresses controlling 10,000 BTC or more increased from approximately 85 in late January to 89 by February 17. That’s a net addition of 4 new mega-whale entities. These players accumulated during the exact period when smaller whales were distributed. The divergence couldn’t be clearer. One group sells while another buys.
This pattern prevented complete collapse. A 28% drop in Bitcoin’s price in a month usually triggers panic selling and liquidation cascades. But mega-whales absorbed the supply being dumped by smaller holders. Their buying created a floor that prevented Bitcoin from dropping below $66,000 despite relentless selling pressure from mid-tier whales and retail panic.
Critical Bitcoin Price Support Makes Next Move Decisive
An RSI bearish divergence formed on the daily charts between February 8 and February 16. The Bitcoin price made lower highs during this period. RSI simultaneously made higher highs. That’s a hidden bearish divergence pattern. It signals pullback momentum rather than full trend reversal. The divergence predicted the exact weakness playing out now.
Critical support sits at $66,270. A clean break below this level triggers measured moves toward $61,000. That represents approximately 10% additional downside from current prices.
Bitcoin price sits at a critical point. Standard whales are distributed. Whale inflows surged. The 28% monthly drop matches prior bear market corrections. But four new mega-whale entities emerged from it all. That divergence between cohorts will determine whether this correction finds a floor here or accelerates lower toward $58,000.