Key points:
Short-term Bitcoin holders, those restless souls, are cashing in their chips, sending BTC to exchanges like pigeons to a park bench. 🕊️💰
Their flurry of activity has hit a level that, in the past, has whispered of “local bottoms” in the BTC/USD saga. 📉✨
Over on Binance, a crowd’s gathered at $117,500, like seagulls at a picnic. 🦅🍔
Bitcoin (BTC), that fickle mistress of the markets, might be planting her feet at the next local bottom, as the little guys pack up their profits, says the latest from the crystal ball gazers at CryptoQuant. 🔮💼
In a blog post titled “Quicktake”—because who has time for a long take these days?—the onchain analytics platform pointed to a key moment in BTC’s never-ending drama.
Bitcoin exchange inflows: The canary in the crypto coal mine
Retail investors, those ants scurrying under the feet of the giants, are trimming their BTC sails as the price hovers around $120,000. CryptoQuant nods sagely, confirming the obvious. 🧑🌾⚖️
But exchange flows, ah, they’re a tricky beast. Inbound transactions are coming from the greenhorns, the short-term holders (STHs), who’ve been in the game less than six months. Rookies, if you will. 🎓🐥
“Increased Short-Term Holder (STH) Activity on Binance Signals Potential Profit-Taking,” Amr Taha, the modern-day soothsayer, declares. 🧙♂️📈
Taha points to the Binance Exchange Inflow Ratio for STHs, a fancy way of saying how many of these newcomers are sending their BTC to Binance. The ratio’s crossed 0.4, a number that, in the past, has often kissed the hand of “local bottoms.” 💏📊
“The latest spike above 0.4 suggests that the retail crowd may have started dumping their Bitcoin en masse onto Binance, likely to lock in profits after a wild ride upward,” he explains, with a wink and a nod. 😉💼
“The STH cohort—typically holding BTC for less than 155 days—has a habit of selling when things look rosy, and the current ratio just reinforces their skittish nature.” 🐿️🌹
Last week’s all-time highs woke the crypto world from its slumber, with trading activity surging across exchanges like a caffeine-fueled frenzy. ☕💃
“Among all the players, Binance saw the biggest one-day jump in spot trading volume both before and after the peak, grabbing a hefty 52% market share on July 18,” CryptoQuant reports in another “Quicktake.” 🏆📈
“Crypto.com, Coinbase, Bybit, and OKX also joined the party, showing off their spot trading volumes like peacock feathers.” 🦚🎉
BTC price: All eyes on $117,500, the siren of the markets
As CryptoMoon noted, the chatter’s already about “seller exhaustion” after a wild profit-taking spree sent BTC/USD ping-ponging between $116,000 and $120,000. 🎾😓
Traders, ever the optimists, still expect another upward leap for Bitcoin, even as attention and capital flirt with altcoins. 🌈💸
Meanwhile, exchange order-book bid liquidity is pointing to $117,500 as the price “magnet,” according to CoinGlass, who shared their wisdom on X Wednesday. 🧲💡
Large liquidity clusters continue to dictate the short-term dance of BTC/USD, like invisible puppeteers pulling the strings. 🎭🕸️
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2025-07-23 13:21