A surge of more than 236,000 BTC was seen moving into deposit addresses at Binance and OKX, drawing attention across the market as Bitcoin continued to trade within a tight range for nearly three months. This significant flow of funds is raising concerns about increased sell-side pressure.
BTC inflows smash yearly averages
On-chain analyst Darkfost highlighted that over 106,000 BTC entered Binance deposit addresses in just a single day. OKX, another prominent global crypto exchange, displayed an even higher figure, with roughly 130,000 BTC moving into its deposit addresses on the same day.
Such numbers stand far above the yearly averages. Historically, Binance typically sees around 44,000 BTC and OKX about 74,000 BTC flowing in daily. Flows of this magnitude have not been observed since the end of the last bear market, according to Darkfost.
Both Binance and OKX are major cryptocurrency exchanges serving millions of users worldwide. Known for deep liquidity and a vast range of digital assets, these platforms have become a central part of crypto trading infrastructure globally.
These deposit addresses act as an intermediate step before funds move into the main operational wallets of exchanges. Users generally route BTC through these addresses when preparing to liquidate.
Sharp spikes in deposit inflows often point to rising intentions to sell among market participants, amplifying concerns about potential volatility ahead.
Market tension builds as range persists
The increase in exchange inflows is seen as a signal of increasing sell-side pressure. Market participants remain cautious, with traders divided between anticipating a breakout and defending against further downside risk.
Current price data indicates Bitcoin traded at $76,812, showing a 2.37% gain over the previous 24 hours and achieving 3.08% growth in the last week. Despite these moves, the asset remains trapped within a prolonged sideways pattern.
Analyst Ted, via social media, described BTC’s move above the $76,000 mark and attributed renewed spot demand to ETF inflows: “ETFs are buying now, which is a sign of spot demand. IMO, Bitcoin could tap the $78,000 level again to fill the CME gap before the downtrend.”
Ted identified ETF purchases as a sign of spot demand returning. He added that Bitcoin may approach $78,000 once again to fill an outstanding CME gap before a new directional phase emerges.
Coinbase premium hints at underlying strength
Another market metric, the Coinbase premium, is under the spotlight. Crypto analyst Ardi pointed out that rallies within the recent range began only after the premium—measuring the BTC price difference between Coinbase and other exchanges—turned positive and held steady.
During a recent analysis, Ardi mapped out these shifts: as the premium turned green, Bitcoin moved from $62,000 to $75,000. A reversal to a “red” premium preceded a drop to $65,000, before another “green” phase sent BTC up to $78,000.
According to Ardi, “Coinbase premium has been doing more of the work in this range than people realise. Every double-digit rally higher has only started once premium flipped and held green.”
Ardi indicated that as long as the premium holds in positive territory, further upward progress is possible. However, any flattening or return to a negative premium could flag a weakening demand trend.
