Three Binance Bitcoin Charts Point to the Direction of BTC's Next Major Move
Three key on-chain metrics from Binance suggest Bitcoin's (BTC) short-term price direction may be influenced by shifting liquidity patterns and trader positioning.
Data indicates rising selling pressure from large holders (whales), with the exchange whale ratio across all platforms reaching 0.47. This ratio's 14-day EMA on Binance climbed to 0.427, a four-month high, signaling whales are moving coins to exchanges, often a precursor to distribution. This creates overhead resistance, making a breakout above $93,000 difficult and increasing the likelihood of consolidation or a deeper retest of support levels.
Simultaneously, the 30-day SMA of BTC inflows to Binance hit 8,915, nearing the March 3rd peak of 9,031. Historically, such high inflow levels have been followed by significant price corrections, indicating holders are preparing to reduce risk exposure or rotate assets.
Furthermore, Binance recorded a substantial inflow of 946,000 USDT deposits over seven days, significantly more than other major exchanges. This surge in stablecoin liquidity suggests traders are preparing capital to either buy the dip or reposition during expected volatility.
In summary, these three metrics—rising whale selling, peak BTC exchange inflows, and growing stablecoin reserves—point to increased selling pressure and a cautious market. A break below the $90,000 support could accelerate a downtrend, while holding this level might lead to a swift rebound.
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