Crypto Deposits Rise, But Buyers Aren’t Showing Up: Analyst

Analysts have observed a significant increase in crypto deposits, specifically $2.4 billion in Bitcoin (BTC) and Ether (ETH), onto the Binance exchange over the past week. This influx, the largest net inflow in a month, is typically associated with preparation for selling or use as collateral. However, current market conditions indicate a lack of corresponding buying power, with stablecoin net flows remaining relatively flat at $42 million. The average size of Bitcoin deposits to Binance has increased substantially, from 8-10 BTC to 22-26 BTC, while outflows have seen a decline in average transaction size. CryptoOnchain interprets these metrics as a “clear warning signal” of rising selling pressure and reduced long-term holding appetite among major players, potentially hindering price increases. Despite this, Bitcoin has seen a slight gain of 1.3% in the past day, reaching $92,600.

(Source：Cointelegraph)