16 hour ago
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Binance Records $1.77B BTC/ETH Outflows Amid $1.58B Stablecoin Inflows
Recent on-chain analysis indicates significant accumulation patterns for Bitcoin and Ethereum on Binance, potentially signaling upcoming bullish momentum.
Binance Asset Movement Overview
- $1.77 billion in Bitcoin and Ethereum outflows from Binance were observed.
- Specifically, $1.1 billion in Bitcoin and $670 million in Ethereum were withdrawn.
- This trend suggests a 'HODL' sentiment, as investors move assets to private wallets, reducing sell-side pressure.
- Simultaneously, Binance saw $1.58 billion in stablecoin inflows, with $900 million in USDT and $680 million in USDC.
- This activity often indicates increased buying power by 'smart money,' ready to absorb sell pressure.
Implications of Accumulation Amid Market Conditions
- The divergence between BTC/ETH outflows and stablecoin inflows is a historical precursor to price recoveries.
- Despite prevailing market fear, major participants are seen "buying the dip," potentially setting a strong price bottom.
- Current valuations show Bitcoin at $96,133 (down 1.33%) and Ethereum at $3,153 (down 1.53%).
