Bitcoin Deposits To Binance Spike: Selling Not Over Yet?
Summary
Binance exchange received large net Bitcoin inflows, potentially extending BTC's decline. Positive netflow indicates more tokens entering the platform, bearish for BTC. Negative netflow suggests net withdrawals, potentially bullish for long-term. Despite price decline, Binance netflow remained positive, indicating continued net deposits. Whale entities may plan to sell more, posing potential risk for BTC. Bitcoin whale moved 700 BTC dormant for over ten years. BTC price plunged to $63,400 but rebounded to $64,800.
