The CEX whale ratio has surged sharply, with the amount of BTC flowing into Binance nearing its yearly peak, as whales take hedging and profit-taking actions after the price of the coin rebounds

The whale ratio on trading platforms has sharply increased recently, with the overall ratio across all trading platforms reaching 0.47, indicating that large holders are increasingly transferring Bitcoin to exchanges. This trend is particularly pronounced on Binance, where the 14-day exponential moving average has climbed to 0.427, marking the highest level since April.

Increased whale deposits often signal a selling phase, as large institutions tend to utilize Binance's liquidity for large-scale offloading. With Bitcoin struggling to effectively break above the resistance at $93,000, this change suggests that selling pressure from above is intensifying. If this trend continues, prices are more likely to consolidate or retest support before attempting another breakout.

On-chain data shows that as of November 28, the 30-day simple moving average of BTC inflows to Binance reached 8,915 coins, close to the annual peak of 9,031 coins set on March 3. Historically, similar inflow peaks (such as in March) have often been followed by significant market corrections. This surge in inflows indicates that holders are actively preparing to hedge or take profits after Bitcoin's recent rise. As the current market attempts to stabilize above the $96,000 resistance level, the increasing inventory on Binance poses a direct headwind. The upward trend may be limited until the excess supply is absorbed by the market.