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Bitcoin is facing renewed selling pressure as the broader crypto market struggles with volatility and uncertainty. Price action has narrowed into a critical zone around $110,000, a level that could dictate the trajectory for the coming weeks. Holding above this support would keep bullish hopes alive, opening the door for a potential retest of all-time highs. But if BTC loses this foothold, analysts warn that a sharper drop toward $100,000 could follow, a move that would shake market confidence.

Fresh onchain data adds another dimension to this picture. CryptoQuant analyst Maartunn shared insights revealing that Binance Exchange Inflow (Mean, MA7) has shifted significantly, showing a marked increase in the average size of deposits hitting Binance. While historically Binance has been known as a retail-heavy exchange, the 7-day mean inflow now stands at 13.5 BTC per transaction — a level that signals whale-sized activity rather than small retail deposits.

This structural shift highlights how large players are becoming more active on Binance, seeking its deep liquidity to manage significant trades efficiently. For Bitcoin, it adds weight to the current moment: a pivotal price test against the backdrop of growing whale presence, making the next moves all the more decisive.

Whale Activity Surges As Exchange Inflows Shift

According to CryptoQuant analyst Maartunn, the onchain metric known as Binance Exchange Inflow (Mean, MA7) offers a valuable lens into the type of participants dominating exchange activity. This metric tracks the average size of deposits hitting Binance. When the mean inflow is low, it typically indicates a large share of deposits coming from retail investors, who generally move smaller amounts of Bitcoin. In contrast, when the mean inflow rises, it reflects whale-sized transactions, suggesting that larger players are becoming more active.

At present, the 7-day moving average stands at 13.5 BTC per deposit, a striking figure that confirms whales are playing a greater role on Binance. To put this into perspective, back in early 2024, the same metric hovered around just 0.8 BTC, reinforcing Binance’s reputation at the time as a retail-driven platform. The surge to today’s levels represents a dramatic shift in market structure, with whales now shaping flows on what was once considered the most retail-heavy exchange.

This evolution aligns with Binance’s position as the largest exchange by trading volume. For whales, liquidity is essential: moving tens or hundreds of millions in Bitcoin requires an environment where sizable orders can be executed without causing disruptive price slippage. Binance provides exactly that.

The trend highlights a broader market transformation. With institutional adoption and whale accumulation rising, the very nature of exchange activity has changed, making Binance not just a hub for retail traders but also a key venue for large-scale players steering market direction.

BTC Tests Critical Support Zone

Bitcoin is trading around $109,800 after a sharp pullback, with the chart showing clear selling pressure weighing on price action. The rejection from highs near $123,000 earlier in August triggered a sustained downtrend, pushing BTC below both the 50-day ($115,654) and 100-day ($116,634) moving averages. These levels now act as firm resistance, reinforcing the bearish momentum in the short term.

Currently, BTC is testing the 200-day moving average near $111,700, a key zone that could determine whether the market stabilizes or faces deeper losses. A confirmed breakdown below this level would expose Bitcoin to further downside, with the next major support around $106,000–$108,000. If this zone fails to hold, sentiment could sour further, opening the path toward $100,000.

A rebound above $112,000 would ease immediate pressure and allow BTC to retest the $115,000 region. Reclaiming that area would be essential for bulls to regain control and rebuild momentum toward the $120,000–$123,000 resistance range.

Featured image from Dall-E, chart from TradingView

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