Bitcoin News
By Steven Anderson
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Binance's Spot Dominance Surges. According to Joao Wedson, CEO of Alphractal, Binance has become the focal point for Bitcoin spot…
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Exchange Inflows Trigger Red Flags. Adding to the caution is a notable shift in Bitcoin exchange netflows.
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Declining Confidence Among Short-Term Holders. Another key metric that is showing weakness is the Realized Cap HODL Waves for Bitcoin holders in…
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Network Growth Hits Lows. Bitcoin’s fundamental strength also appears to be weakening.
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Stock-to-Flow Ratio Weakens Scarcity Narrative. Adding to the concerns is a 14.28% drop in Bitcoin’s Stock-to-Flow (S2F) Ratio, which now sits at…
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A Mixed Outlook Ahead. In summary, while Binance’s soaring spot volume may initially appear bullish, the broader…
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Bitcoin’s spot trading volume on Binance has surged dramatically, with activity levels now more than ten times higher than those recorded on Coinbase.
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At the time of writing, Bitcoin was trading around $102,600, maintaining stability despite this massive increase in trading volume.
9 / 15
According to Joao Wedson, CEO of Alphractal, Binance has become the focal point for Bitcoin spot trades, with volume levels nearly eclipsing the combined total of all other…
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Typically, a spike in spot trading volume indicates strong buyer demand and is often a bullish indicator.
11 / 15
Adding to the caution is a notable shift in Bitcoin exchange netflows. On June 22nd alone, over 5,900 BTC flowed into centralized exchanges, flipping the netflow metric into…
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In essence, while Binance’s volume growth might suggest bullish behavior, the increase in BTC deposits to exchanges points to rising sell pressure.
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Another key metric that is showing weakness is the Realized Cap HODL Waves for Bitcoin holders in the 1-day to 7-day range. This figure has fallen to 3.548%, a sharp drop from 8.
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Their departure suggests a decline in short-term conviction, especially after Bitcoin was rejected at the $105,000 resistance level.
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Bitcoin’s fundamental strength also appears to be weakening. Network growth, which tracks the number of new addresses created, has plummeted to 60,400.
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