Bitcoin Sell Pressure on the Rise? Binance Inflows Hit 10-Day Streak

On-chain data reveals a consistent trend of Bitcoin flowing into Binance wallets over the last ten days, signaling that investors may be positioning themselves to liquidate their holdings.

Consistent Inflows to Binance

According to CryptoQuant contributor Darkfost, the "Exchange Netflow" metric for Binance has remained firmly in positive territory recently. This metric tracks the net amount of Bitcoin moving into or out of centralized exchange wallets. When the value is positive, it indicates that deposits are outpacing withdrawals. Historically, large-scale transfers to exchanges are viewed with caution by the market, as they often precede selling activity, which can exert downward pressure on the asset's price.

Tripling the Intensity

The scale of these deposits has escalated significantly throughout the ten-day window. Data shows that on May 16, a net total of 378 BTC entered Binance-associated wallets. By today, that daily figure has surged to 1,190 BTC—more than tripling the initial inflow rate. The peak of this movement occurred on May 18, when a single-day record of over 3,600 BTC was deposited. Consequently, the total Bitcoin Exchange Reserve on Binance has grown from a low of 616,000 BTC in late April to approximately 632,000 BTC today.

Current Market Standing

Despite the rising exchange reserves and potential sell signals, the Bitcoin price has shown resilience. At the time of reporting, Bitcoin is trading around $77,400, remaining relatively stable compared to its position one week ago. Analysts suggest that while the consistent inflows are traditionally interpreted as a bearish signal, the market has so far absorbed the potential pressure without a significant price correction.