Bitcoin Whales Accumulate Holdings, Binance Sees Reduced Selling Pressure Amid Market Fluctuations

Bitcoin (BTC) is showing signs of recovery, trading above $84,000 after a bearish trend earlier in the week. On **today's date**, the asset began with a 2.1% rise, signaling a potential return to previous price levels. According to a CryptoQuant analysis by Joao Wedson, lower selling pressure on Binance is impacting Bitcoin's price action. Short-Term Holders (STHs) are sending significantly fewer Bitcoin to Binance, currently at 6,300 BTC compared to the 24,700 BTC average on other platforms. In a separate analysis by CryptoQuant's Maartunn, Binance dominated year-to-date spot trading volume with $1.9 trillion, over three times Crypto.com's 12.12%. On-chain data from Santiment reveals that whale-sized Bitcoin wallets have climbed to their highest point since December of last year. As of **today**, there are 1,993 whale-sized addresses, a 2.6% increase in the past five weeks, suggesting that large investors view current price levels as profitable entry points.