There are still 293.6w BTC left in the exchange!
Creating a new low in this cycle also means that more BTC is being mentioned in centralized on-chain reserves and has not been sent to exchanges for sale. The last time the balance was at such a low level was on December 17, 2022, after the FTX collapse, when a lack of trust in centralized exchanges led to a mass withdrawal movement, causing a dramatic drop in exchange balances.
The short-term price is significantly influenced by Binance's BTC balance. Since the beginning of April 2024, there have been four obvious rapid increases, which correspond to a weakening of BTC's price during the same period.
The changes in Binance's BTC balance are closely related to the strength of selling pressure in the market. An increase in value often applies pressure on short-term prices. Recently, the balance has been consistently declining, which provides the necessary conditions for a rebound.
The short-term price is significantly influenced by Binance's BTC balance. Since the beginning of April 2024, there have been four obvious rapid increases, which correspond to a weakening of BTC's price during the same period.
The changes in Binance's BTC balance are closely related to the strength of selling pressure in the market. An increase in value often applies pressure on short-term prices. Recently, the balance has been consistently declining, which provides the necessary conditions for a rebound.
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BTC
85,930.22
-2.98%
ETH
2,932.4
-4.86%
