Bitcoin Holders Move Assets to Self-Custody as Binance Inflows Hit Six-Year Low
Bitcoin holders are keeping assets in self-custody wallets rather than on trading platforms where they can be easily sold. Inflows to Binance, the largest trading platform globally in terms of trading liquidity, have declined sharply. The 30-day moving average of these inflows has fallen to approximately 3,998 BTC, a low not seen since 2020. Current deposit levels are roughly three times lower than the historical average of 11,000 BTC, and significantly lower than the 25,000 BTC daily inflows seen in May 2021 and 19,000 BTC in July 2023. This reduction in exchange inflows reduces immediate selling pressure.
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