Whale Wallets Dormant 7 Years Move Bitcoin to Binance, But Market Holds $106K

• Older Bitcoin wallets (3-10 years) are moving coins to Binance at the highest rate since July.
• Despite the on-chain “sell” signal, the BTC price has held stable, indicating quiet redistribution, not a panic sell-off.
• Analysts suggest whales are repositioning, either for tax-advantaged ETFs or to diversify into other blockchain projects.

Analysts at CryptoQuant report a significant on-chain shift in November. Older Bitcoin wallets are recording their highest transfer activity to Binance since July. This movement coincides with the broader market correction seen over the past week.

The “Exchange Inflow – Spent Output Age Bands” indicator spiked sharply on November 4, led by coins aged between five and seven years, followed closely by those in the three-to-five-year range. These age groups typically represent large investors who tend to move coins only when prep…

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