Binance Received Almost $200M In Bitcoin Inflows As BTC Fell Below $27,000: Data

Binance Received Almost $200M In Bitcoin Inflows As BTC Fell Below $27,000: Data
фото показано с : bitcoinist.com

2023-10-14 20:00

On-chain data shows Binance observed Bitcoin inflows of almost $200 million a couple of days back as BTC saw its plunge below $27,000.

Binance Has Recently Received Large Bitcoin Deposits

As pointed out by analyst James V. Straten in a post on X, inflows have recently occurred on the cryptocurrency exchange Binance. The relevant indicator here is the “exchange netflow volume,” which keeps track of the net amount of Bitcoin entering into or exiting the wallets of a given centralized exchange.

When the value of this metric is negative, it means that the exchange is seeing outflows of a net number of coins right now. As investors generally withdraw their coins from platforms like these to hold onto them for extended periods in self-custodial wallets, this kind of trend can be bullish for the price.

On the other hand, the indicator being positive implies the holders are making net deposits to the platform currently. These inflows may be occurring for selling, so the metric having such a value can sometimes foreshadow a bearish outcome for the asset.

Now, here is a chart that shows the trend in the Bitcoin exchange netflow volume for Binance over the past month:

As displayed in the above graph, the Binance Bitcoin exchange netflow has registered some positive spikes during the past few days. Straten notes that a couple of days back, the exchange saw a particularly large BTC inflow of almost $200 million.

Interestingly, on the same day as those deposits, BTC had registered its decline below the $27,000 level. Thus, it’s possible that those large inflows had been signs of dumping.

As the analyst has highlighted in the graph, it would appear that inflows have once again started to ramp up on Binance during the past day. It’s currently unclear what the intent behind these new deposits may be, as they have been made while BTC has already been trading around its lows.

They could be from panic sellers who believe that more decline is ahead, so they are trying to exit here to at least avoid any further losses, or perhaps, they may be for other purposes, like opening new positions on the futures market.

From the chart, it’s visible that spikes in the indicator haven’t always been bearish for the price, as those particular instances may have seen inflows for other reasons.

It now remains to be seen whether these latest inflows will also turn out to be bearish like those from two days back, or if they would be neutral for the market, like the few occurrences already seen in the past month.

BTC Price

Bitcoin has been unable to make any recovery since its latest drawdown as the asset is still trading around the $26,800 mark.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Binance Coin (BNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $562.5
Капитализация $0 Rank 99999
Доступно / Всего 0 BNB

binance bitcoin below data btc almost inflows

binance bitcoin → Результатов: 126


Binance Bitcoin Reserves Shed $200 Million Amid Ex-CEO’s US Detainment Threat

After the cryptocurrency exchange and its former CEO, Changpeng Zhao, entered a guilty plea to federal charges in the United States, Binance’s Bitcoin reserves were reduced by $200 million. Although CZ has paid his bond, prosecutors are attempting to have him stay in the US until he is sentenced. Based on on-chain data collected by […]

2023-11-24 08:36


Binance Bitcoin Outflows Continue, Something To Worry About?

On-chain data shows Binance has continued to observe Bitcoin outflows amid recent uncertainty. Is this something you should worry about? Binance Has Observed Peak Bitcoin Outflows Of 14,000 BTC Just a few days ago, the US Securities and Exchange Commission (SEC) sued the cryptocurrency exchange Binance and its CEO, Changpeng Zhao, over alleged securities fraud. […]

2023-6-9 16:00


Криптосообщество заподозрило покупку аккаунта @bitcoin биржей Binance

Сообщение, опубликованное в профиле @bitcoin в Твиттере, вызвало слухи о том, что биржа криптовалют Binance, возможно, приобрела учётную запись. На изображении, опубликованном в учетной записи @bitcoin, биткоин показан рядом с нативным токеном Binance BNB coin.

2021-8-28 12:48


Майнинг-пул Binance стал первым в сети Bitcoin SV

Майнинг-пул биржи Binance стал крупнейшим по объёму добываемых блоков в системе Bitcoin SV, свидетельствуют данные CoinDance. Согласно статистике сервиса, за последние сутки Binance добыла 26,39% блоков Bitcoin SV, превзойдя другие пулы.

2020-6-18 13:07


Фото:

Крипто-биржа Binance открывает майнинг-пул по добыче Bitcoin 

Биржа цифровых активов Binance планирует запуск собственного майнинг пула, его деятельность будет... Сообщение Крипто-биржа Binance открывает майнинг-пул по добыче Bitcoin  появились сначала на ПрофитГид: рейтинг ICO, блокчейн, биржи и курсы криптовалют.

2020-4-2 10:21


Пользователи Binance смогут покупать криптовалюту за рубли с помощью Visa

Биржа добавила возможность привязать карту к собственному аккаунту для приобретения Bitcoin и еще трех монет. Биржа Binance добавила возможность покупать Bitcoin, Ethereum, XRP и Binance Сoin за рубли напрямую с карты Visa.

2020-2-5 18:30


Binance Research: майнеры Bitcoin SV не нацелены на получение прибыли

Как сообщило аналитическое подразделение криптовалютной биржи Binance, мотивы майнеров Bitcoin SV не экономические – добывать другие криптовалюты было бы гораздо выгоднее. В своем исследовании сотрудники Binance Research проанализировали прибыльность добычи BTC, BCH и BSV.

2019-12-19 18:45


Фото:

Binance: Bitcoin укрепил свое доминантное положение на рынке

Bitcoin по-прежнему является лидером по объему торгов. Несмотря на неблагоприятные колебания цен, крупнейшая криптовалюта сохранила свое доминантное положение на рынке.  Исследовательское подразделение криптовалютной биржи Binance — Binance Research — опубликовало ежеквартальный отчет, в котором вновь оценило корреляцию цифровых активов между собой.

2019-10-11 19:56


Фото:

New Binance Report Reaffirms Bitcoin Dominance Will Drop To 60%

Altcoins will return to prominence as Bitcoin market cap share is bound to decrease, cryptocurrency exchange Binance has stated. Binance: Bitcoin Dominance ‘Sticking Around’ In its latest bulletin which went live on September 4, Binance Research, the exchange’s analytics arm, repeated claims made in July that Bitcoin’s current market dominance would not last indefinitely.

2019-9-4 17:00