Bitcoin Defies Gravity: Inflows Dip Yet Price Holds Firm Above $105K
Bitcoin's playing hard to get—investors are pulling back on inflows, but the king of crypto won't budge below six figures.
The liquidity paradox
Market whales seem to be holding their breath as capital inflows slow to a trickle. Yet Bitcoin's price action laughs in the face of traditional supply-demand economics, clinging stubbornly to its $105,000+ throne.
Wall Street's ulcer moment
While goldbugs and bond traders hyperventilate over 'proper valuations,' Satoshi's creation continues its silent coup against legacy finance. Another day, another middle finger to efficient market hypothesis—just how we like it.
Remember when analysts said $100K was 'priced in'? The market's got a funny way of making hedgies eat their Excel models.
- Bitcoin inflows to Binance hit a multi-month low at 5,147 BTC.
- BTC holds above $105000 amid reduced selling pressure and rising demand.
- On-chain data signals an early-stage bullish cycle with strong spot interest.
Bitcoin inflows to Binance, one of the largest cryptocurrency exchanges, have dropped sharply, even as the asset trades comfortably above $105,000. This unusual behavior is offering new insights into investor sentiment and market dynamics.
On-chain data from CryptoQuant reveals that Bitcoin’s 30-day moving average (30-DMA) inflows on Binance fell to just 5,147 BTC on June 24. For comparison, in December 2024, when BTC was valued below $100,000, inflows reached 13,200 BTC, which is over two-and-a-half times higher than the current levels.
Historically, spikes in exchange inflows have been associated with local market tops, as traders MOVE BTC to exchanges for selling during profit-taking or panic-induced selloffs. For example, during the FTX crisis in late 2022, monthly inflows surged to 24,000 BTC, highlighting widespread fear. The current figures, however, are not only lower than past bull phases but also fall beneath historical bear market benchmarks.
“This pronounced drop in inflows reflects a strategic shift among investors,” said Bitcoin researcher Axel Adler Jr. “The inflow/outflow ratio, based on the 30-day simple moving average, remains high, similar to levels seen at the end of 2023 when the bull market began. It indicates strong demand and reduced intent to sell.”
Bitcoin Consolidates Amid Bullish On-Chain Data
The drop suggests that investors are not eager to sell into strength, preferring instead to hold their coins, possibly in cold wallets or through self-custody, which reduces the available supply on exchanges. Such behavior is typically seen in the early-to-mid stages of a bullish cycle.
Still, analysts urge caution. While on-chain data paints a bullish picture, external variables, including macroeconomic uncertainty and geopolitical risk, continue to pose threats to short-term momentum.
However, signs of technical strength are emerging. crypto trader Ibrahim Cosar noted that Bitcoin’s recovery above its 50-day exponential moving average (EMA) could signal the start of a fresh rally.
“Historically, brief dips below the 50-day EMA followed by quick reclaims often lead to strong price breakouts of 10%–20%,” Cosar said. “Bitcoin has now posted three consecutive daily closes above this level; this setup has triggered major upward moves in past cycles.”
Adding further support, crypto analyst IT Tech pointed to a rising cumulative volume delta (CVD) spot indicator, which tracks net buying versus selling pressure in spot markets. The climbing CVD suggests strong demand among buyers, with bitcoin hovering around the $108,000 mark.
Bitcoin appears to be in a phase of consolidation with reduced selling pressure, as inflows to Binance reach multi-month lows. Combined with supportive technical indicators and strong spot demand, the data suggests the potential for a sustained move higher, provided broader macroeconomic conditions remain favorable.
