Bitcoin inflows to the Binance exchange have sharply decreased, indicating diminished selling pressure that could catalyze a sustained price rally toward $120,000. Market data reveals the 30-day moving average of Bitcoin deposits to Binance recently plunged to approximately 5,147 BTC—a steep drop from the 13,200 BTC average recorded in December 2023.
Historical trends suggest elevated BTC exchange inflows typically align with market tops and corrections. Current low inflow levels instead point to holder accumulation and reduced liquidation pressure. Analysis of inflow/outflow ratios further confirms persistent spot market demand, with investors showing reluctance to offload holdings despite recent price gains.
Technical indicators reinforce bullish momentum. Bitcoin has reclaimed its 50-day Exponential Moving Average while Cumulative Volume Delta (CVD) metrics demonstrate strengthening buying activity in spot markets, laying groundwork for a potential ascent to $120,000. Market observers caution, however, that macroeconomic shocks or regulatory developments could disrupt this trajectory.