Spot Bitcoin (BTC) orders on Binance have reached an impressive $1.96 million on average, marking a significant surge. According to CryptoQuant’s community analyst, Arab Chain, this spike in average order size highlights the growing involvement of large institutional investors and whales. These players are increasingly dominating the spot market activity on the world’s largest cryptocurrency exchange, signaling a shift towards long-term accumulation.
The surge in average Bitcoin order size has been particularly evident since mid-October, with whales taking advantage of what they view as an attractive entry point in the current market. This uptick is not only driven by institutional activity but also coincides with the rising liquidity inflows into Binance. The exchange has witnessed a surge in daily spot trading volume, which recently surpassed $2.82 billion for Bitcoin pairs.
Whales Seize on Dip: A Strong Indicator of Accumulation
The surge in order size comes amid a series of volatile price movements, including a significant dip on October 10. On that day, Bitcoin experienced a sharp price correction, dropping from a high of $126,200 to $106,000 within a span of just days. Despite this sudden downturn, whales were quick to capitalize on the price dip, pushing the average spot order size to a new high of $4.8 million—an increase of over 100% in just 24 hours.
These movements are increasingly indicative of whale-driven accumulation, as opposed to retail-driven activity. With Bitcoin’s price struggling to maintain levels above $110,000, investors are positioning themselves for potential gains in the near future. As a result, Bitcoin’s spot market is seeing less involvement from retail traders and more from larger investors with the intent to hold for the long term.
Institutional Investors Lead the Charge Amid Exchange Reserve Decline
Recent data reveals that Bitcoin reserves on exchanges are steadily decreasing, further emphasizing the shift towards long-term holding strategies by major players. This aligns with market expectations that Bitcoin is entering a phase of consolidation, where larger investors continue to accumulate, despite short-term price fluctuations.
With Bitcoin facing one of its toughest months in recent memory, the trend of whale accumulation and growing institutional interest on Binance signals a potential turning point for the cryptocurrency’s trajectory in the near future.