Bitcoin Breaks $90K but Exchange Data Shows Rising Selling Pressure
Despite Bitcoin surpassing $90K and Ethereum hitting $3K, exchange data reveals conflicting signals of rising selling pressure alongside massive outflows.Summary
Bitcoin has surged past $90,000 and Ethereum is trading above $3,000, yet on-chain data indicates a complex market split. Large Bitcoin deposits to exchanges have increased, accounting for 45% of inflows, suggesting whales are preparing for potential selling or liquidations, mirroring the recent price correction.
Contrasting this, an unprecedented withdrawal of 1.8 million BTC from exchanges overnight has fueled speculation about major institutional accumulation or strategic portfolio shifts, as exchange reserves have significantly dropped. Furthermore, Binance's stablecoin reserves reached a record $51.1 billion, indicating traders are positioning for increased volatility or potential buying opportunities.
Overall, while prices have recovered, the mixed activity—rising selling indicators via large inflows versus bullish signals from massive outflows and high stablecoin reserves—suggests the market remains on edge and complex strategic moves are underway.
(Source：BeInCrypto)