Arab Chain
September reveals selling pressure from whales on Binance, countered by strong demand that supported Bitcoin in holding above $108K
Data from Binance, the world's largest exchange in terms of Bitcoin trading volume, indicates that September was marked by clear fluctuations between attempts to rally and exposure to selling pressure from whales and long-term holders. This is clearly reflected in the Exchange Inflow CDD indicator, which measures the movement of older coins as they enter exchanges typically a sign of an intention to sell or redistribute liquidity. Throughout September, the CDD indicator showed notable volatility, recording significant peaks at various points (especially mid-month). Although the indicator did not reach the extreme levels seen in some previous months, the repeated spikes indicate inflows from older wallets into Binance. This reflects a state of caution among long-term investors, some of whom preferred to test the market by transferring their coins to the exchange, without this turning into a full-blown sell-off. It is noteworthy that the indicatorโs spikes often coincided with slowdowns or pullbacks in price, reinforcing the hypothesis that these flows represent short-term selling pressure. However, these pressures did not lead to a breakdown of key support levels around $108K, indicating the presence of corresponding buying liquidity that absorbed these moves. For long-term investors: there was a partial willingness to take profits, but the absence of large waves suggests that they have not yet lost confidence in the market. General liquidity: the price remaining above $108K despite repeated selling pressure indicates that the market has the capacity to absorb inflows, reflecting the strength of underlying demand.