Bitcoin Flow is Filled with Short-Term Investors

Recently, a significant portion of Bitcoin flows has been driven by short-term investors, as evidenced by data from Binance. According to a recent report by a CryptoQuant analyst, Binance is progressing toward becoming a hub where more short-term capital is accumulated. The analyst's examination of the Day One Dominance (DOD) chart reveals that almost all Bitcoin arriving at the exchange has been moved less than a day ago.

While the DOD rate was around 70 percent in 2022, it rose above 90 percent at the beginning of 2025. In recent measurements, however, DOD reached an all-time high of 99.9 percent, clearly indicating that almost all Bitcoin flowing into Binance is being moved by active wallets and short-term traders; thus, the mobility of old coins held for the long term has nearly disappeared.

This situation highlights two important points. First, it is clear that Binance has become a primary trading venue for short-term traders. Scalpers, investors looking for short-term opportunities, and high-frequency trading algorithms are directing the volume on the exchange. The second point is the dynamics of the recent price rally. The increase in Bitcoin prices occurring simultaneously with this trend suggests that the rise is primarily fueled by speculative hot money.

According to the CryptoQuant analyst, the almost negligible entry of old coins can be seen as a positive signal because long-term investors are not creating selling pressure. However, the current structure, which consists almost entirely of hot money, makes the market more susceptible to sudden emotional shifts and short-term fluctuations. Data indicate that Binance has transformed into a market dynamic fueled by rapidly circulating capital.