Binance Sees Continued Positive Bitcoin Deposits
- Bitcoin Deposit Trend: Binance has recorded net positive Bitcoin deposits for nearly 10 consecutive days, with reserves increasing from 616,000 BTC on April 24 to 632,000 BTC by May 25, indicating growing confidence in the exchange despite ongoing geopolitical uncertainties.
- Market Recovery and Trading Volume: The global crypto market cap stands at approximately $2.57 trillion with a 24-hour trading volume of $60 billion; while Bitcoin has rebounded to $77,101, it remains down 12% year-to-date, reflecting continued weak market sentiment.
- ETF Outflow Warning: Over $1.2 billion has fled from Bitcoin ETFs in the past week, with May's total outflow reaching $1 billion, which could pressure Bitcoin's price support, prompting traders to watch for any stabilization in ETF inflows.
- Whale vs Retail Dynamics: Despite retail panic indicated by a Crypto Fear & Greed Index reading of 28, whale holders have accumulated approximately 47,000 BTC in the past two weeks, suggesting that large investors may view the current market weakness as a buying opportunity, contrasting with retail sentiment.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 69603.187 | 71946.394 | 74541.357 | 76884.564 | 79479.527 | 81822.734 | 84417.697 |
| Fibonacci | 71946.394 | 73832.775 | 74998.183 | 76884.564 | 78770.945 | 79936.353 | 81822.734 |
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