Recent data highlights a significant shift in Bitcoin’s dynamics as miners have started selling off substantial amounts of Bitcoin to Binance. This trend coincides with the ongoing capitulation phase impacting short-term holders and signaling potential opportunities for institutional investment. Key takeaways include: 51,000 BTC were transferred to Binance between October 9th and 16th, representing a record high in this market segment. This action highlights a strategic shift from holding Bitcoin to selling it, likely driven by bearish sentiment and expectations of further price declines. 50,000 BTC was accumulated by Bitcoin ETFs during the same period. The influx of funds into Bitcoin ETFs signifies growing institutional interest despite recent short-term losses for investors. Binance has benefited from this increased activity, with its net inflows exceeding those of other exchanges in Q3, reflecting a crucial role in market liquidity and facilitating these transactions. Similar historical trends suggest that these periods of increased activity often precede market bottoms and potentially lead to buyer power and price stabilization.