Increasing Pressure on Bitcoin Price: $5.56 Billion Flow to Binance

Recently, the price movements of Bitcoin, which have attracted the attention of investors, seem to be under significant selling pressure with a transfer of 5.56 billion dollars worth of Bitcoin to the Binance exchange in the last 30 days.

CryptoQuant analyst Maartunn draws attention to the recent increase in the Whale Flow to Binance metric, which is an important indicator of whale flows. This metric tracks large transfers over 1,000 Bitcoin and reveals the extent to which whales are sending Bitcoin to exchanges. According to the analyst, such flows typically coincide with periods of increased price pressure.

Recent data shows that a total of 5.56 billion dollars worth of Bitcoin was sent to the Binance platform in just the last 30 days. Especially, the large transactions executed on October 21 were remarkably significant, reaching a total of 1.07 billion dollars on that day. During these transactions, the Bitcoin price rose from 108,000 dollars to 113,000 dollars and then returned to the 108,000 dollars level. Analysts emphasize that this pullback may have occurred due to the impact of whale flows.

Maartunn's shared data analyzes the large transfers to Binance on October 21 as follows:

• 04:00 - 43.74 million dollars
• 08:00 - 21.63 million dollars + 162.24 million dollars
• 10:00 - 143.77 million dollars + 323.43 million dollars
• 17:00 - 39.45 million dollars
• 18:00 - 336.95 million dollars

This high volume of transactions indicates that whales are actively liquidating their positions. Experts note that such large movements can disrupt the short-term stability of the Bitcoin price, but can lead to increased market liquidity in the long run. It is important for investors to carefully monitor the market movements in light of these developments.