CryptoQuant: Over 550,000 BTC Moved to Binance and OKX Deposit Addresses as Bitcoin Retests $60,000
AI Market Summary
CryptoQuant data show over 550K BTC moved to Binance and OKX-linked deposit addresses as Bitcoin retested $60K, the largest such spike since the 2023 bear market. Large inflows to exchange deposit addresses typically indicate rising near-term liquidity available for selling, increasing perceived sellside pressure even if not all transfers convert to spot sales. This flow dynamic can weigh on risk appetite across major crypto assets.
Impact level
● High
Affected assets
BTC/USDT-3.03%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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More than 550,000 BTC were transferred to exchange deposit addresses tied to Binance and OKX as Bitcoin revisited the $60,000 level, according to CryptoQuant analyst @Darkfost_Coc. The analyst said over 220,000 BTC moved to Binance-linked deposit addresses, while about 330,000 BTC was sent to OKX deposit addresses. CryptoQuant described the surge as the largest such inflow activity since the 2023 bear market. Elevated transfers to exchange deposit addresses can point to rising potential sell-side pressure, though these movements do not necessarily mean the coins have been sold.
