Bitcoin Whale Inflow to Binance Reaches $7.3 Billion, Highest in Three Months
CryptoQuant's community analyst Maartunn highlighted a notable trend in the Bitcoin Exchange Whale Inflow on Binance, an indicator of large deposits to centralized exchanges by whale entities.
Key Points
- High inflow indicates large whale deposits, often signaling potential selling pressure and bearish sentiment for Bitcoin.
- Low inflow suggests accumulation or lack of distribution, which may indicate bullish sentiment.
- The current 30-day Binance Exchange Whale Inflow reached $7.3 billion, the highest in three months.
- Historical patterns show that spikes in this metric often coincide with price peaks for Bitcoin.
- Bitcoin is currently trading around $89,500, exhibiting volatility without a clear market direction.
