Bitcoin Flow is Filled with Short-Term Investors

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

While the DOD ratio was around 70 percent in 2022, it surpassed 90 percent at the beginning of 2025. In the latest measurements, the DOD reached an all-time high of 99.9 percent, drawing attention. This situation clearly indicates that nearly all Bitcoin flowing into Binance is being moved by active wallets and short-term traders; thus, the movement of old coins held for the long term has almost entirely ceased.

This situation highlights two important points. Firstly, 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 driving 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 predominantly fueled by speculative hot money.

According to the CryptoQuant analyst, the near-absence of old coin inflows can be interpreted as a positive signal due to long-term investors not creating sell pressure. However, the current structure, which is almost entirely comprised of hot money, makes the market more susceptible to sudden shifts in sentiment and short-term fluctuations. Data shows that Binance has now transformed into a market dynamic characterized by high-speed circulating capital.