Is Binance Losing Its Grip? Bitcoin Flows Reveal Key Market Shifts

After experiencing a bearish trend earlier in the week, Bitcoin (BTC) seems to have regained upward momentum. The asset started the day with a 2.1% rise. It is currently trading above the $84,000 mark, signaling a potential return to its previous price levels.

Despite this positive movement, Bitcoin remains subject to fluctuating market conditions, influenced by external factors and internal metrics impacting its performance across different exchanges.

Shifting Trends in Bitcoin’s Exchange Flows

As BTC continues to make strides above $84,000, an interesting trend has emerged in exchange flows signaling investor behavior. A recent analysis by CryptoQuant’s Joao Wedson provides a fascinating perspective on the current state of the Bitcoin market.

According to Wedson, Bitcoin’s price action has been significantly impacted by lower selling pressure on certain exchanges, particularly Binance.

In his report titled “Lower Selling Pressure: Binance and the BTC Flow Across Different Exchanges”, Wedson highlights that Short-Term Holders (STHs) are sending significantly fewer Bitcoin to Binance compared to other exchanges.

The current amount of BTC being sent to Binance stands at 6,300 BTC, much lower than the average of 24,700 BTC transferred to other platforms. This suggests that many traders on Binance may be adopting a more neutral stance, potentially waiting for clearer signals before making further moves.

On the other hand, Bitcoin inflows to other exchanges are increasing, indicating that investor behavior may vary based on the platform they use. Binance, despite having the highest trading volume, seems to be seeing less activity from short-term holders, whereas other exchanges are experiencing higher inflows.

This shift could suggest that while Binance remains a trusted exchange, other platforms are beginning to see more action from BTC traders.

Binance Dominates Spot Trading Volume

In another analysis by CryptoQuant’s Maartunn, the focus shifted to spot trading volumes across various exchanges, with Binance taking the lead. In the year-to-date data for 2025, Binance has been the dominant player in spot trading volume, handling a cumulative total of $1.9 trillion.

This is more than three times the volume of its closest competitor, Crypto.com, which stands at 12.12%. The dominance of Binance is significant, as higher trading volumes typically result in greater liquidity and tighter spreads, benefiting traders with better pricing and smoother entry and exit opportunities.

The increasing liquidity on Binance makes it an attractive option for many investors, and its dominance in spot trading volume further solidifies its position as a key player in the cryptocurrency market.

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Featured image created with DALL-E, Chart from TradingView