Bitcoin rally faces retail exit but whales double down
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Bitcoin’s July rally appears to be losing steam among retail investors, with selling activity rising sharply across U.S., Korean, and Binance-based retail segments, even as whales accumulate heavily. A July 22 analysis by CryptoQuant contributor Arab Chain points to waning demand from U.S. and Korean traders. The Coinbase Premium Index, which tracks the price gap between Coinbase and global exchanges, has stayed flat or negative despite Bitcoin’s (BTC) push to an all-time high of $122,838 on July 14. This indicates that U.S. investors are likely taking profits rather than accumulating. Similarly, the Korea Premium Index shows local traders are selling Bitcoin at a discount to global prices, reflecting low demand and continued distribution behavior. This regional trend aligns with platform-level behavior. According to another analysis by CryptoQuant contributor Amr Taha, Binance’s retail inflows surged from $12 billion to over $16 billion in the 30-day sum, indicating that retail traders are depositing Bitcoin and are likely to sell. This mirrors a pattern observed earlier this year when Bitcoin climbed from $78,000 to $111,000. Retail investors exited during the uptrend and missed out on further gains. Further confirmation comes from Binance’s net taker volume, which has turned negative. That suggests that sellers are still in control, either closing out long positions or opening new short positions, even though Bitcoin is near its all-time highs. On the other hand, whales appear to be aggressively accumulating. Whale wallets monitored by Whales Screener took out almost $200 million in Bitcoin and over $400 million in Ethereum (ETH) from exchanges in the 24 hours leading up to July 22. These outflows usually indicate long-term conviction and a reluctance to sell into the current rally. At the time of writing, Bitcoin is trading at $117,945, down 0.2% over the previous day and 4% from its record high.…
Filed under: News - @ July 22, 2025 11:26 am