Starting in mid -April 2025 to early May, the Krypto Binance Exchange has experienced a shrinkage of more than 51,000 BTC in its reserves.
Based on data On-chain Which distributed By AMR Taha Analyst at Cryptoquant, from the initial number of around 595,000 BTC, now there are only 544,500 BTC. This decline is not just a number, but it could be a picture of the mood of investors who began to choose to get out of the main path and store their coins in a more quiet place, namely a private wallet.
Investors began to pull themselves from the exchange
Why are people busy withdrawing Bitcoin from Binance? Some analyzes say that large players such as financial institutions or long -term holders are moving their assets to Cold Wallet.
That is, they may not intend to sell in the near future. Imagine someone who stores gold bars in a home safe rather than leaving it in a bank, that is a sign they believe in their value in the long run.
On the other hand, some entities might move BTC to use in platform Defi or pursuing more attractive yields elsewhere. So it’s not because of panic, but because it sees a better opportunity out there.
There are also those who suspect that this withdrawal is related to optimism against ETF products, which later experienced a surge in entry flow. From April 21 to May 1 only, the product ETF Recorded the daily entry funds which penetrated US $ 2 billion several times.
If investors feel the market will rise because ETF demand increases, it makes sense that they want to store their BTC outside the stock exchange, right?
Bitcoin derivative activity exploded, but some were odd
But this story did not finish there. The latest data from Coinglass shows that the BTC market is experiencing a surge in activity.
In the last 24 hours, trading volume Spot BTC increased by 51.66 percent, penetrating US $ 67.66 billion. It was not a small increase, this was like a suddenly crowded market like the night market before Eid.
But strangely, even though the volume of the spot soared, Open interest In the futures market actually fell slightly 1.84 percent to US $ 62.57 billion. It’s like many people come to the market, but most just look around and then go home.
It could be that this is a profit -taking after the previous increase, or maybe the form of risk adjustment ahead of the unpredictable market movement.
Furthermore, the option market shows different symptoms. Within a day, option trading volume BTC skyrocketed almost double, up 99.62 percent to touch US $ 1.87 billion. Not only that, Open interest The option also rose 2.21 percent, reaching US $ 30.54 billion.
This fact shows that more and more market participants choose options as a means of speculation or protection. In simple language, more and more people buy umbrellas, because the weather seems to change dramatically.
What does all this mean?
If the BTC reserves in Binance fall, the trading volume rises dramatically, and the option market starts to church, meaning one, there is pressure and tension behind the scenes. Investors seemed to be holding their breath, preparing to face a big movement, but did not know where it would be.
To be sure, the transfer of BTC from the Exchange to a private wallet can indicate a supply that will be tighter, especially if the demand from the institution continues to increase.
In the world of digital assets, limited supply usually leads to one thing: prices that move wilder. In the midst of market volatility and derivative activity that is getting hotter, clearly the market is waiting for something big. Whether it’s a storm, or maybe a rainbow. [st]
