Cryptocurrency analysis firm CryptoQuant has evaluated the latest trends in Bitcoin's spot market, revealing an increase in activity that suggests institutional investors and large whales are actively accumulating positions.
Key Indicators of Increased Investor Activity
According to the company, the average Bitcoin spot order size on Binance rose to $1.96 million during October. This figure represents one of the highest levels observed in recent months, indicating a significant increase in market activity from institutional investors and large whales.
CryptoQuant data further shows that the total spot trading volume on Binance reached $2.82 billion. This represents a strong increase in capital inflows to the exchange, a movement that analysts note aligns with behavior typically seen during periods of accumulation. Large investors are believed to be building long-term positions rather than engaging in short-term speculation.
Market Conditions and Investor Sentiment
During this period, the Bitcoin price remained stable around the $108,000 mark. Large order volumes, which tend to increase during periods of sideways price movement, typically indicate a phase where savvy investors are quietly accumulating positions. Furthermore, on-chain indicators also support the observed decline of Bitcoin reserves on exchanges and the strengthening of long-term holding trends.
The steady increase in average order size and total traded value suggests that professional traders view the current price levels as an attractive entry point and anticipate that new upward momentum can be expected.