Short-term holder panic: $5 billion worth of Bitcoin sent to Binance in one week
The Bitcoin market has once again come under pressure from short-term holders (STH). On-chain data monitoring shows that over the past seven days, this category of investors has sent approximately 80,000 BTC to the Binance exchange, equivalent to roughly $5 billion at the current exchange rate. This is one of the highest levels of coin inflows from this group in recent months, except for the February record.
For comparison, in February 2026, the volume of deposits from STH exceeded 100,000 BTC per week, and Bitcoin was also testing the $60,000 level at that time. Although the current wave of sales is smaller in scale than the winter one, it shows a similar dynamic: after reaching a local peak of around $82,000 in May, BTC has lost more than 28% of its value and has once again approached the psychological mark of $60,000.
Emotions Override Rationality
Short-term holders are traditionally the most sensitive to volatility. Every sharp price movement triggers panic decisions among them, which, as history shows, rarely turn out to be profitable. In the current situation, this has caused the Fear & Greed Index to plummet to extremely low values—below 10 points—signaling extreme fear in the market.
It is the behavior of STH, in my observation, that amplifies the magnitude of corrections. When the market declines, they begin to massively dump assets, creating additional pressure on the price. This is a classic example of "retail investor capitulation," which we have seen many times before.
At the time of writing this analysis, Bitcoin is trading near the $64,200 mark, having gained just over 0.3% in the last 24 hours. However, it is still premature to talk about a trend reversal—as long as emotions dominate fundamental analysis, the market remains vulnerable to new waves of selling.
My professional opinion: The current situation resembles a classic "shaking out weak hands" phase. While short-term speculators panic, long-term holders (LTH) are likely accumulating positions. Attentive investors should watch the dynamics of exchange reserves and SOPR metrics—these will provide a signal when panic gives way to an accumulation phase.