Data from CryptoQuant shows that around 11K BTC was recently transferred to Binance. However, this volume is relatively modest compared to previous major sell-offs (such as the 24K BTC wave back in February).

This is highly likely just a routine selling activity to cover periodic operating expenses (electricity, maintenance, hardware) by major mining pools, especially while $BTC is holding a strong price range of 76.8K — not a sign of panic selling.

The market can easily absorb this supply. A healthy $BTC accumulation phase to build momentum for the next trend!

Written by Rei Researcher