Bitcoin’s Decline and Rising Sell Pressure on Binance
- Bitcoin’s price has fallen 24.6% from its March high of $109,000 to below $82,000.
- The 7-day moving average of mean coin inflows into Binance is increasing.
- The “Bitcoin: Exchange Inflow (Top10)” metric has reached a year-high level.
- Binance’s Bitcoin reserves have climbed to levels last seen in November of the previous year.
- The Taker Buy/Sell Ratio indicates that sell orders outweigh buy orders.
Bitcoin’s price decline is accompanied by rising sell-side activity on Binance, with increased inflows and exchange reserves suggesting continued bearish sentiment in the market.
Source (2.6)https://www.newsbtc.com/bitcoin-news/top-bitcoin-inflows-hit-year-high-on-binance-should-you-be-concerned/?rand=52377
