Binance logs 48 days of Bitcoin inflows signaling sell pressure

Binance posts 48 straight BTC inflow days; sell pressure peaked June 2

Sustained net inflows to Bitcoin on Binance signal ongoing sell pressure. The streak spans 48 days, per CryptoQuant.

Crazzyblockk reported the run using the “BTC Exchange Net Flow Indicator (IE-Adjusted, 7D MA).” The trend started with mild selling on April 19 and intensified from May 28. Source.

• 48 consecutive days of net BTC inflows to Binance, per IE-adjusted 7D MA. CryptoQuant
• Binance reserves rose from 619,529 to 659,488 BTC, up ~39,958 BTC. CryptoQuant
• June 2 peak: +8,791 BTC daily net inflow; 7D MA hit +0.844. CryptoQuant
• June 5 easing: +1,679 BTC daily; 7D MA down to +0.691. CryptoQuant
• Whales’ share of inflows averaged 46.76% (range 34.96%–65.95%), atypical for institutional distribution. CryptoQuant and context via NewsBTC
• An accumulation signal appeared on March 14 before this sell streak. CryptoQuant

Selling pressure has started to cool. The next sessions on Binance will show if this is a reversal or a pause. NewsBTC and NewsBTC.

As of writing, BTC trades near $61,073, down 0.9% on the day. NewsBTC.