Panic among short-term holders: $5 billion in BTC left Binance in a week
The Bitcoin market is once again experiencing an active sell-off phase by short-term holders (STH). According to my on-chain data analysis, approximately 80,000 BTC, equivalent to roughly $5 billion at the current exchange rate, have been sent to Binance over the past seven days. This signals a resurgence of selling pressure and high emotional strain on this category of investors.
The June inflow of coins from short-term holders has become one of the strongest since the all-time high was reached. For comparison, in February, when Bitcoin was also testing the $60,000 mark after peaking around $82,000, the deposit volume exceeded 100,000 BTC. The current wave is smaller in scale than the winter one, but its intensity remains high. Since May, the asset has lost more than 28% of its value, triggering massive loss realization.
Emotions vs. Logic
Short-term holders are traditionally the most sensitive to volatility. Every sharp downward move triggers a chain reaction: fear escalates, and the Fear & Greed Index drops below the 10 mark, corresponding to extreme fear. Under such conditions, STHs make impulsive decisions, selling assets at the peak of panic.
Notably, such behavior rarely yields profit. It is this group of investors that amplifies the depth of corrections, turning local drawdowns into full-fledged sell-offs. As of June 22, 2026, Bitcoin is trading around $64,200, gaining just over 0.3% in the last 24 hours, indicating temporary stabilization but not a trend reversal.
My expert assessment: As long as short-term holders continue to dominate the volumes of inflows to exchanges, the market remains vulnerable to further declines. However, historical data shows that such waves of panic are often followed by an accumulation phase. The key support level is $60,000. A breakdown below this level would open the path to $52,000–55,000, but if buyers seize the initiative, we could see a reversal in the coming weeks.