This week started in the cryptocurrency sector on a considerable Bearish note, and Bitcoin, the leading digital active, has fallen sharply in the direction of the price level of $ 112,000. With the crypto king that experiences a persistent price decrease, Important BTC investors See their coins quickly shift in crypto exchanges.
Whales that move Bitcoin to Binance
Bitcoin’s recent downward trend in the past few days seems to have influenced the sentiment of large investors on crypto fairs. In a recent message about X has Cryptoquant, a leading company for chains and data analysis, sketched A growing shift among investors on Binance, the biggest crypto exchange.
Bitcoin is currently witnessing a new wave of investor activity, because massive whale instruments of BTC are becoming small Binance. Such a trend often occurs before periods of increased volatility, because whales try to take advantage of the current state of the market or to prepare for approaching market factors.
With large holders who may prepare for large trade or positioning movements, this increase in transactions with a high volume indicates renewed market intensity. While BTC sees robust downward movement, Maartuun emphasized that whale activity On exchanges usually correspond to these fluctuations.
According to the markt expert, whales remain a huge impact on the market and usually use the Binance grant as their most important trading platform. This means that the development could reform BTC’s current price dynamics and the short -term process.
In the meantime, the expert has underlined the importance of monitoring the whale ratio for Binance flow. Data shows that the inflow of large holders to Binance reached around $ 120 million during the sale on September 22. After these massive deposits, an additional $ 52 million extra in the platform was observed in the early hours of 23 September.
Intuum noted that these transfers suggest that whales are constantly moving a considerable part of their coins to Binance, with the aim of carrying out on the market. By combining the transfers between 22 and 23 September, it marks the second largest inflow into Binance in the past month, around the current height of $ 116,000.
BTC Future Open Interest goes down
Given the price fall in Bitcoin, various important statistics are starting to show Beerarish action. One of the statistics that are emphasized by Glassnode that shows a negative trend is the BTC Futures Open interest forever.
In after On X, the leading data analyzes platform reported that the metric had a decrease from $ 44.8 billion to $ 42.8 billion, such as BTC’s price withdrew to $ 113,000. According to Glassnode, the Flush in leverage reflects reduced exposure to market speculation. Moreover, it is often a healthy reset that can reduce the chance of forced liquidations and stabilize derivatives markets.
Featured image of Pixabay, graph of TradingView.com
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