• BTC has declined by 1.18% over the past 24 hours.
• Bitcoin’s retail investors’ deposits on Binance surged to 6k BTC, surpassing whale inflows.

Since reaching a new ATH of $109k, nearly two weeks ago, Bitcoin [BTC] has continued to trade sideways.

Over this period, it has remained stuck within the $98k and $107k consolidation range. The recent conditions point towards potential changes in market dynamics.

According to CryptoQuant, this major shift in dynamics has now been observed in whales and retail traders’ behavior.

Bitcoin retail traders outpace whales

The analysis posits that retail traders are outpacing whales on exchange deposits.

Over the past month, retail investors on Binance have significantly increased their BTC deposits, reaching approximately 6,000 BTC.

This behavior among retailers reflects fear-driven market conditions, with investors panicking and selling to cash out. Such a trend results in short-term downward pressure.

In contrast, the whale inflows to Binance have declined by a factor of four, now sitting at 1,000 BTC. When whales deposit less on exchanges, it suggests large holders are keeping their BTC off exchanges for the long term. This is a bullish signal.