New analysis indicates Bitcoin exchange inflows have hit multi-year lows, signaling reduced selling pressure.
Drop in Seller Pressure
Bitcoin sell-side pressure has eased considerably since its first push above the $100,000 mark in late 2024. The average BTC sent for sale to major exchanges has dropped sharply from 81K to 29K BTC per day.
Impact on Bitcoin Market
On March 23, 7-day average inflows hit their lowest since May 2023, when BTC/USD traded at less than $30,000. Current prices are nearly three times that amount, hinting at a potential recovery in the 2025 market correction.
Neutrality Movement on Binance
The Coinbase Premium, a proxy for US exchange demand, continues to hover at neutral levels. Short-term analysis suggests a new uptick in inflows, except on Binance. Recent data shows short-term holders are sending significantly less BTC to Binance: 6,300 BTC compared to 24,700 BTC to other exchanges.
Thus, the current reduction in selling pressure may indicate a steady market development, offering conditions for potential growth in the future.
