Binance's monthly Bitcoin inflow has dropped to 5,700 BTC, less than 50% of the monthly average since 2020

PANews June 26 news, according to Cryptoslate, CryptoQuant analyst Darkfost pointed out in a report on June 24 that Binance's monthly Bitcoin inflow has dropped to 5,700 BTC, less than half of the average monthly 12,000 since 2020, and only 25% of the inflow during the FTX crisis at the end of 2022. In this cycle, each surge in large Bitcoin deposits corresponds to a local price peak, such as the net inflow of more than 17,000 Bitcoin when Bitcoin pulled back from $69,000 in August last year, and the net inflow of more than 20,000 Bitcoin when it broke through six figures in March this year, and each surge foreshadowed a short-term correction. Today, the inflow of 5,700 BTC occurs when Bitcoin stabilizes above $105,000 and volatility is close to the low point of the year. Darkfost believes that the contraction of this inflow indicates that the market is in a "positioning phase", and both retail traders and large investors choose to keep Bitcoin outside the exchange, eliminating immediate selling pressure.

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Author: PA一线

This content is for informational purposes only and does not constitute investment advice.

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