Bitcoin’s recent rally has taken it from a low of $74,000 to a high of $86,000, and the shift in sentiment is becoming increasingly visible—not just among retail traders but also among the biggest players in the market. New data shows that Bitcoin whale activity on Binance has dropped by over $3 billion, signaling a reduction in selling pressure and growing confidence in the asset’s future.

According to on-chain analytics platform CryptoQuant, whales—large holders of Bitcoin—are no longer aggressively offloading their holdings. This behavior is reflected in a significant decline in whale inflows to Binance over the past 30 days, mirroring patterns seen during the 2024 correction. During periods of uncertainty, whales often lead market movements, so their decision to hold rather than sell suggests improving sentiment and increasing expectations of price stability—or even continued upside.

Further analysis of Binance-specific data supports this trend. Both the Exchange Whale Ratio and total whale inflows on the platform have decreased significantly, indicating that large-scale players are no longer pushing funds onto exchanges with the intent to sell. Historically, this has been a bullish signal, as it shows whales are confident enough to retain their holdings rather than prepare for downside.

But it’s not just the whales who are shifting their strategy. Short-term holders (STHs)—typically more reactive traders who contribute heavily to daily volatility—have also slowed their selling. BTC inflows to Binance from STHs, measured on a 7-day moving average, have fallen dramatically. From a peak of roughly 17,000 BTC in mid-November, inflows dropped to 14,000 by early March, and now hover around 9,000 BTC. This steady decline reflects cooling sell-side pressure from more speculative holders.

With both whales and STHs showing restraint, Bitcoin’s apparent demand is beginning to rise. The 30-day sum of demand—an important indicator of accumulation activity—has started to rebound from deeply negative levels, hinting at a market shift where buyers are gradually taking control.

Supporting this is a notable increase in the Taker Buy Sell Ratio, which has recently surged to 1.07. This metric, which compares the volume of aggressive buy orders to sell orders, suggests that buyers are currently dominating market activity. A ratio above 1 typically indicates strong demand and bullish momentum, reflecting an environment where accumulation is outweighing distribution.

Moreover, the Fund Flow Ratio, which tracks the proportion of transactions involving exchanges (often associated with selling), has fallen to just 0.07 in the past week. This drop implies that fewer users are moving BTC to exchanges to sell, reinforcing the idea that holders are choosing to sit tight and wait for higher prices.

Taken together, these metrics build a compelling case for a bullish trend reversal. With whales pausing their sales, short-term traders pulling back from aggressive exits, and buyer demand growing, the setup for sustained gains is taking shape. Should these conditions hold, Bitcoin may soon challenge key resistance at $87,167, and potentially push further toward $88,600.

Still, risks remain. If market volatility returns or unexpected macroeconomic news spooks investors, BTC could retrace to around $82,460—its next major support level. However, as of now, the data strongly favors the bulls.

In past cycles, similar periods of low selling pressure and increasing demand have often preceded strong rallies. If this pattern repeats, Bitcoin may be on the verge of breaking out of its recent range and heading toward new local highs.