Bitcoin Exchange Inflows Surge Amid Price Drop to Seven-Month Low

Bitcoin exchange inflows surged to over 9,000 BTC on Nov. 21, with prices dropping to $80,600 on Coinbase, marking a seven-month low.

45% of deposits were large transfers (100+ BTC), totaling 7,000 BTC in one day.
The average deposit size in November increased to 1.23 BTC, indicating significant movement towards exchanges for potential selling.

Binance Stablecoins and Exchange Inflows

Binance's stablecoin holdings reached an all-time high of $51 billion.
BTC and Ether inflows to exchanges hit approximately $40 billion, led by Binance and Coinbase.

Traders are holding funds in stablecoins, waiting for market stabilization before re-entering.

Crypto Market Image

Market Outlook

Analysts suggest the recent recovery might not last, with potential tests of lower price levels.
Key resistance levels for Bitcoin are identified at $92,000 and $101,000 during rebounds.
Bitcoin has recently traded above $90,000 but is still down 28% from its peak of $126,000 in October.

Market Chart

Current Market Conditions

The S&P 500 and Nasdaq show gains driven by potential US Fed rate cuts, aiding risk assets.
Bitcoin's correlation with the Nasdaq has weakened, with a steeper decline in crypto markets.
Ether and altcoins also see increased exchange inflows, reaching bear-market lows.

Liquidity is present but held in stablecoins; a substantial rally requires heavy buying or a catalyst. The market remains in anticipation mode, with possible short-term rallies or deeper dips as positions adjust.