Bitcoin deposits to Binance from smaller holders have climbed to a six-month high, while large-wallet inflows are moving in the opposite direction, according to new analysis from CryptoQuant.
The latest 30-day total for retail-classified Bitcoin deposits reached $10.75 billion, nearly double the $5.5 billion recorded in April. Meanwhile, deposits attributed to large holders fell to $3.8 billion from $5.9 billion in late August.
The figures come from a CryptoQuant Quicktake published by analyst Darkfost and were reported more widely on October 26. They describe transfers into one exchange, not Bitcoin sold by investors.
Retail-classified Bitcoin inflows reach $10.75 billion
CryptoQuant’s rolling 30-day measure shows deposits from smaller wallets reaching their highest point in six months. At $10.75 billion, that figure is about 2.8 times the inflow attributed to whales and $6.95 billion higher in dollar terms.
A 30-day total combines transactions recorded during the previous month. It should not be confused with $10.75 billion arriving in a single day or with fresh money entering the Bitcoin market.
CryptoQuant uses on-chain data and its wallet-classification methods to separate larger holders from smaller ones. Those labels are estimates based on transfer behavior, not a verified headcount of individual retail traders.
Whale deposits decline as smaller wallets send more BTC
Deposits attributed to whales dropped roughly 36% from $5.9 billion in late August to $3.8 billion in the latest reading. That is a slowdown, not a complete halt in large transfers to Binance.
Darkfost suggested that some smaller holders may be using Bitcoin’s recent price rebound as a chance to reduce exposure. Large holders, by contrast, have not increased their Binance deposits at the same pace.
That interpretation remains a theory about investor behavior. A deposit to an exchange may precede a sale, but the same coins can also be moved for custody, trading collateral or other reasons. The inflow figures do not show whether a trade took place or at what price.
What the on-chain split means for Bitcoin
The difference matters because exchange inflows can help traders assess where potential sell-side supply may be building. If smaller holders continue sending BTC to Binance while whales hold back, the exchange may see a different mix of possible sellers during any rebound.
Still, the data covers Binance rather than the entire crypto market. Bitcoin can also move through other exchanges, private transactions and off-exchange trading desks. Inflow figures alone cannot establish where the price will move next.
For additional context, BlockBriefing recently examined a possible Bitcoin momentum divergence. That separate technical analysis should not be treated as confirmation of selling by Binance depositors.
The next signals to watch are whether the retail inflow trend persists, whether whale deposits start rising again, and whether trading volumes confirm actual selling pressure.
Data note: All figures are attributed to Darkfost’s CryptoQuant analysis available on October 26, 2026. They are rolling 30-day Binance deposit estimates, not independently audited exchange sales or investment recommendations.
