$2.4 Billion in Bitcoin, Ether Moved to Binance Amid Weak Demand

Large crypto holders transferred approximately $2.4 billion in Bitcoin and Ethereum to Binance last week, with deposits ranging from 22 to 26 Bitcoin per transaction. Withdrawals have decreased, indicating a shift from long-term storage to maintaining tradable balances on the exchange.

Deposit Trends and Stablecoin Flows

Stablecoin net flows remained flat with an inflow of $42 million, primarily due to token transfers between Ethereum and Tron.
Large transfers might indicate preparation for selling or using assets as collateral in derivatives markets.

Market Reaction to Geopolitical Events

Bitcoin reached a three-week high of $93,340 amid geopolitical tensions following US military actions in Venezuela.
Gold rose above $4,400 an ounce, while silver increased by 4.8%.

Selling Pressure vs. Demand

Large deposits and reduced withdrawal sizes suggest major holders are less inclined to store Bitcoin in cold storage.
The accumulation of Bitcoin has stalled since October, increasing the likelihood of price rallies being met with selling.

Cautious Outlook

The risk of downward pressure has increased, but a major crash is not certain.
Current price strength is influenced by headlines and cross-market moves rather than new crypto demand.
Increased stablecoin inflows and decisive action from large holders are needed for sustained gains.