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On-chain Analyst: Bitcoin Flow from Binance May Signal Selling Pressure in the Next One to Two Weeks
Summary: According to NewBTC, on-chain analyst BorisVest suggests that based on analysis of fund flows from Binance, Bitcoin prices may face selling pressure in the next one to two weeks. Data shows that Binance's net flow of Bitcoin has turned positive, while outflows have decreased, indicating a distribution phase for Bitcoin. Additionally, Binance's trading reserves continue ...
According to NewBTC, on-chain analyst BorisVest suggests that based on analysis of fund flows from Binance, Bitcoin prices may face selling pressure in the next one to two weeks. Data shows that Binance's net flow of Bitcoin has turned positive, while outflows have decreased, indicating a distribution phase for Bitcoin. Additionally, Binance's trading reserves continue to grow, indicating investors are sending their Bitcoin to exchanges to sell for profit. BorisVest points out that Binance's large trading volume plays a crucial role in influencing the cryptocurrency market, so with new buyers entering, whale selling often brings significant selling pressure to Bitcoin prices.
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Link: On-chain Analyst: Bitcoin Flow from Binance May Signal Selling Pressure in the Next One to Two Weeks [Copy]
