Bitcoin has surpassed the threshold of 90,000 USD and Ethereum is trading above 3,000 USD. However, mixed on-chain data reveals a bifurcated market between selling pressure and large withdrawals.
Large deposits into exchanges currently account for 45% of the total Bitcoin inflow, reaching 7,000 BTC on 21/11, according to CryptoQuant. Meanwhile, unprecedented Bitcoin withdrawals of up to 1.8 million BTC from exchanges overnight have sparked speculation about institutional moves. Binance's stablecoin reserves have reached a record 51.1 billion USD, indicating that traders are preparing for greater market volatility.
$$BTC
BTCUSDT
Perp
92,115.2
+2.08%
ETHUSDT
Perp
3,235.21
+0.98%