Bitcoin Inflows Fall 15.5% as Whales Pause Near $79K

Bitcoin's price has risen by around 25% since early August, from $63,000 to $79,000. During this time, larger participants have been driving most of the buying interest.

The amount of mid-sized coins entering Binance, Coinbase Pro, and Coinbase Prime decreased by an estimated 15.5% during this period. This indicates that mid-sized investors are choosing to hold rather than sell their coins as prices increase.

The largest decrease in mid-sized coin inflows was at Binance, where the number of mid-sized coins going into the platform dropped almost 30%. This has led to a shift in large mid-size investor activity between different exchanges, with no increase in overall selling pressure evident.

While retail and institutional investors drove most of the price increase, whales have maintained their balance levels since September 2nd, holding an average of approximately 5.22 million BTC. This suggests that whale demand remains missing, despite reduced exchange selling being beneficial for Bitcoin.