Large Bitcoin holders moved a record amount of coins to Binance in February 2026 as prices corrected sharply from highs near $95,000, signaling intense sell-side pressure. This was followed by a massive $17 billion withdrawal from exchanges as investor trust eroded, shifting holdings into private custody and tightening available supply.
Analysis of on-chain data reveals a shift in Bitcoin whale behavior corresponding with the 2025 market correction. Whale inflows to Binance averaged around 1,000 BTC during the early 2024 rally but climbed to between 2,900 and 3,000 BTC monthly as prices fell from their peak.
A spike on February 6th saw nearly 12,000 BTC transferred, an event noted for its velocity and scale. This surge coincided with BTC‘s slide from approximately $95,000 toward $60,000, amplifying sell-side liquidity.
Net Taker Volume data confirmed these transfers translated into active market selling. Selling intensified as Bitcoin retraced from the $95,000 region, with sharp negative spikes marking aggressive distribution.
Exchange balances then began falling as distrust toward Binance intensified after its perceived link to an October 2025 market event. This led to a net outflow of 19,162 BTC from exchanges, with Binance alone processing nearly $17 billion in withdrawals.
This scale of capital flight reflected risk aversion rather than profit-taking. The withdrawal signaled eroding trust, defensive capital rotation, and a market prioritizing custody security over active distribution.
