Bitcoin Exchange Deposits Stay Low: Whales Disinterested In Selling?
Summary
Bitcoin exchange inflows for Binance and OKX have been low, indicating disinterest from whales in selling. This is shown by the on-chain indicator "exchange inflow," tracking Bitcoin transferred to centralized exchanges. The trend suggests a lack of appetite for selling, even during the recent rally. The behavior contrasts with the 2021 bull run, indicating the current rally may not be near a top yet. The emergence of spot exchange-traded funds (ETFs) may impact this trend. At the time of writing, Bitcoin is around $70,400, up more than 5% in the last seven days.
