Surge in Binance Withdrawals Indicates Potential Bitcoin Supply Shock at This Level

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2d ago

Bullish On-Chain Divergence: Bitcoin is experiencing a significant bullish on-chain divergence on Binance, with investors showing aggressive accumulation by withdrawing coins rather than selling them.
Withdrawal Activity Surge: Bitcoin withdrawals on Binance have reached their highest level since May 2018, indicating a strong shift towards self-custody and long-term holding strategies among investors.
Decline in Deposits: Concurrently, Bitcoin deposits on Binance have fallen to their lowest level since 2017, suggesting a lack of selling pressure and contrasting typical behavior seen during price highs.
Supply Shock Scenario: The combination of high withdrawals and low deposits creates a classic supply shock setup, indicating that investors are positioning for potential price increases due to reduced available supply on exchanges.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

Surge in Binance Withdrawals Indicates Potential Bitcoin Supply Shock at This Level

About the author

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