Bitcoin's been under pressure again lately. Coinpedia quoted data stating that since April, the average monthly BTC influx of Binance had risen from 3,880 to 7,600, equivalent to a potential sales pressure of approximately $479 million at current prices.
This change happened after bitcoin fell by $60,000. In the past few rounds, there has been a marked panic deposit on the exchange in the vicinity of this price and the market has become more sensitive to subsequent shocks.
Increased exchange inflows
- Monthly average BTC inflow nearly doubled
- About $479 million in potential sales pressure
- There's been a marked deterioration of the mood below $60,000.
The market is watching what?
Analysts are currently concerned with two points: whether the US$ 60,000 support is holding, and whether the follow-up liquidity signal will help to determine whether the current cycle is nearing the stage low.