According to data from CryptoQuant, Bitcoin Exchange Netflow (Total) on Binance continues to lean negative, showing that more $BTC is being withdrawn from the exchange than deposited.

This usually suggests that immediate sell-side pressure on the exchange may be easing, as investors are not sending too much $BTC to Binance to be ready to sell.

The reason is that although negative netflow reflects a partial decline in exchange supply, $BTC price still remains relatively weak. This shows that the market has not yet seen a clear improvement in demand, but rather that selling pressure may be temporarily cooling down.

In other words, CryptoQuant data shows that sentiment is becoming less stressed on the supply side, but it is still not enough to confirm a strong reversal.

Written by Rei Researcher