Bitcoin has been under sustained selling pressure on Binance for weeks — and on-chain data suggests the story started long before last week’s market weakness.
A QuickTake post on CryptoQuant from pseudonymous analyst Crazzyblockk highlights a 48-day streak of net BTC inflows to Binance, tracked by the platform’s “BTC Exchange Net Flow Indicator (IE‑Adjusted, 7D MA).” That metric measures the 7‑day average of Bitcoin entering or leaving Binance while excluding internal transfers — meaning sustained net inflows typically signal deposit activity that can be converted to sell orders.
Key takeaways from the analysis
- Start of streak: mild selling began on April 19, escalating on May 28 into readings the analyst characterizes as strong sell pressure.
- Reserve increase: Binance’s BTC balance rose from 619,529 to 659,488 BTC over the 48 days — roughly +39,958 BTC.
- Peak activity: June 2 saw the largest daily adjusted net inflow (+8,791 BTC) and a 7‑day MA high of +0.844.
- Recent pullback: by June 5 the daily adjusted inflow had declined to +1,679 BTC and the 7‑day MA compressed to +0.691.
- Whale participation: large holders made up an average 46.76% of Binance inflows during the period, ranging from 34.96% to 65.95% — a profile the analyst says is atypical for clear-cut institutional distribution.
Crazzyblockk also notes an earlier accumulation signal dated March 14 that preceded this extended outflow period. With both daily flows and the 7‑day moving average now cooling off from their peaks, the market is in a gray area: traders must watch whether the fall in selling is a genuine reversal or just a temporary pause in broader distribution.
At the time of the post, Bitcoin traded around $61,073, down roughly 0.9% in the past 24 hours. The analyst concludes that Binance’s next several sessions will likely be informative for BTC’s near‑term direction.
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