Retail Bitcoin (BTC) investors are setting recent records as “structural decline” sets in on this bull market.
Key points:
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Bitcoin corporations with as much as 1 BTC are sending less per day to Binance than ever before.
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The story of a “structural decline” falls within the era of spot Bitcoin ETFs.
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Whale positioning suggests a brand new low for BTC price.
“Shrimp” Binance BTC inflows hit all-time lows
Data from on-chain analytics platform CryptoQuant shows that BTC inflows to the most important crypto exchange Binance collapsed in 2025.
Retail Bitcoin investors – corporations with as much as 1 BTC ($90,000) – have largely retreated from the trading scene.
According to CryptoQuant, even in comparison with the 2022 bear market, the activity of those “shrimp” investors is a fraction of what it once was.
“Shrimp activity, i.e. small Bitcoin holders (<1 BTC), has fallen to one among the bottom levels ever recorded,” contributor Darkfost confirmed in a QuickTake blog post on Monday.
Bitcoin shrimp inflows (screenshot). Source: CryptoQuant
As of December 2022, Shrimp's every day inflows to Binance alone were roughly 2,675 BTC ($242 million) per day as measured by a 30-day easy moving average (SMA).
“Today, these inflows have plummeted to only 411 BTC, which represents one among the bottom levels ever observed,” Darkfost continued.
“It’s not a straightforward retreat, it’s a structural decline.” 
Seeming retail disinterest has characterised recent Bitcoin history, at the same time as prices reach unprecedented recent highs.
Meanwhile, an indicator that compares retail investors to whales remained bullish through the decline over the past two months.
The whale versus retail delta contrasting the long positioning of each cohorts suggests a BTC price low signal.
“Whale vs. Retail Delta shows that for the primary time in Bitcoin history, whales are so heavily positioned in long positions in comparison with retail traders,” Joao Wedson, founder and CEO of crypto analytics platform Alphractal, told X Followers in late November.
“Whenever these levels have been this high prior to now, we’ve got seen local lows form – but large positions have also been liquidated.”
Bitcoin ETFs are “clearly” contributing to changes in retail
CryptoQuant, meanwhile, explained the retail downtrend within the context of the emergence of more suitable Bitcoin investment vehicles, namely US spot Bitcoin exchange-traded funds (ETFs).
“ETFs have provided a frictionless option to gain exposure to Bitcoin without having to take care of private keys, the safety of wallets, exchange accounts, or the danger of improper custody,” Darkfost wrote.
“Of course, ETFs will not be the one explanation, but they’re clearly contributing to a profound change in the way in which retail participates out there.”
As Cointelegraph reported, November was a testing time for ETFs, with the most important, BlackRock's iShares Bitcoin Trust (IBIT), recording $2.3 billion in net outflows.
This article doesn’t contain any investment advice or recommendations. Every investment and trading activity involves risks and readers should conduct their very own research when making their decision.
This article doesn’t contain any investment advice or recommendations. Every investment and trading activity involves risks and readers should conduct their very own research when making their decision. While we attempt to offer accurate and up-to-date information, Cointelegraph doesn’t guarantee the accuracy, completeness or reliability of the data in this text. This article may contain forward-looking statements which are subject to risks and uncertainties. Cointelegraph is not going to be chargeable for any loss or damage arising out of your reliance on this information.
