CryptoQuant, a leading cryptocurrency analytics firm, has provided a crucial analysis of the current state of Bitcoin. The firm’s findings suggest that Binance whales are signaling a bullish trend, potentially hinting at future price increases. Analysis reveals that when Bitcoin approaches or surpasses its previous record highs, Binance whales tend to sell large portions of their Bitcoin holdings on the exchange, seeking to lock in profits. However, current data paints a different picture: whale activity has been minimal with only around $3 billion worth of Bitcoin entering Binance, compared to over $5.3 billion during previous peaks. Analysts believe this signifies that whales are currently holding onto their Bitcoins in anticipation of further price increases.