Whale Deposits to Binance Spike, but Buyers Stay Silent

[bonk]

Large crypto holders have moved roughly $2.4 billion worth of assets onto Binance over the past week, evenly split between Bitcoin and Ether. Analysts say this marks the exchange’s largest net inflow in a month, a pattern often associated with preparation for selling or collateral use in derivatives markets.

What’s missing, however, is buying pressure. Analysts from CryptoQuant noted that stablecoin inflows — typically used as dry powder for purchases — were largely flat. Without a corresponding rise in stablecoin deposits, the surge in BTC and ETH inflows suggests positioning for distribution rather than fresh accumulation.

[madmax]

could still run higher but this feels more like positioning than real conviction tbh