Bitcoin Miner and Whale Signals Spike on Binance: CryptoQuant Lays Out a Three-Part Test for a New Rally, and BTC Has Passed One

Bitcoin miners and whales sent unusually large amounts of BTC toward exchanges in recent days, CryptoQuant said on Thursday, November 5, and its analyst argues the spikes could be early signs of a new rally if three conditions are met. That sounds backwards at first. Coins heading to exchanges usually mean someone wants to sell. On Binance, the exchange whale ratio, the share of inflows coming from the 10 largest deposits, jumped to near 1.0, above its February–March peaks of about 0.85–0.87.