Darkfost2025-11-11

Multi-month high in Binance Bitcoin inflows amid STH capitulation

Since the exceptional liquidation event recorded in early October, and now as the current cycle periodicity approaches its end, some investors have chosen to secure profits and reduce their exposure. As a direct consequence, the daily BTC inflows into Binance (30-dma) have accelerated significantly throughout October. On average, around 7,500 BTC are being sent to Binance each day. We have not seen such levels of inflows since the March correction. These flows reflect a selling pressure that has intensified recently. Yet despite these sizeable inflows, the price of BTC continues to consolidate fairly cleanly around the symbolic $100,000 level, suggesting that current demand is strong enough to absorb the selling. Additionally, short-term holders have also contributed to this selling pressure. These investors, typically more reactive and sensitive to price fluctuations, are participating in this distribution phase. With a realized price around $112,000, STHs have been underwater for a month, with significant amounts of BTC being sent to exchanges at a loss. Historically, when short-term holders are selling at a loss, it often corresponds to a cleansing phase for the market that can mark the final stage of a correction.