Binance Bitcoin Inflows Drop 75% to 5,700 BTC Amid Market Stability

Binance’s monthly Bitcoin (BTC) inflows have experienced a significant decline, dropping to 5,700 BTC. This figure is notably less than half of the 12,000 BTC average recorded since 2020 and represents only 25% of the 24,000 BTC that flowed into the exchange during the FTX panic of late 2022. This data was shared by CryptoQuant analyst Darkfost in a June 24 note.

Darkfost’s analysis revealed that every substantial deposit surge during the current cycle coincided with a local price peak. For instance, net inflows exceeded 17,000 BTC during the $69,000 correction in August 2023 and surpassed 20,000 BTC in March 2024 when Bitcoin first reached six figures. Each of these spikes preceded a short-term pullback, underscoring Binance’s role as a platform where holders convert latent selling intent into market supply.

In contrast, the latest 5,700 BTC reading comes at a time when Bitcoin is stable above $105,000 and volatility is near year-to-date lows. This figure is also roughly 30% of the 13,200 BTC that moved to Binance the week Bitcoin first crossed $100,000 in December 2024. Darkfost argues that this contraction signals a “holding phase” where both retail traders and larger cohorts keep coins off the exchange, thereby removing immediate sell pressure. Traders typically send Bitcoin to exchanges when preparing to sell, so falling deposits imply fewer coins poised for near-term liquidation.

When supply on order books thins while demand persists, upside follow-through becomes easier. This pattern was also flagged by Glassnode in May when it reported “Binance sell-pressure cooling off” during Bitcoin’s climb to $104,000. Binance handles the most significant spot volume among centralized venues, representing 37% of the monthly centralized exchange trading volumes on average this year. As a result, the exchange’s deposit trend serves as a proxy for the system-wide intent to liquidate.

The analyst chose inflows rather than outflows to filter noise from transfers tied to custodial reshuffles or exchange wallets. A rise in deposits requires an active decision to sell, whereas withdrawals may reflect storage preferences. Darkfost smoothed the series using a monthly mean to dampen distortions from macroeconomic headlines, such as the early June flare-up between Israel and Iran. Even after that adjustment, the latest value marks the lowest inflow level observed in more than four years of data.

Darkfost cautioned that macro uncertainty and thin liquidity could still jar prices if a shock prompts new waves of deposits. He recommended tracking any jump toward or above the long-run 12,000 BTC mean as a potential warning of renewed distribution. The data suggests that the current holding phase may indicate a period of stability for Bitcoin, with fewer coins being prepared for sale, which could support price stability and potential upward movement in the near future.