According to CryptoQuant data, Binance’s Ethereum exchange net inflow (14-day moving average) continued to surge sharply after Christmas, reaching 245,000 ETH, which is more than the 140,000 ETH observed before Christmas. This marks the highest net inflow since early July. Positive net inflow indicates that the amount of ETH deposited into Binance exceeds the amount withdrawn. Such a surge suggests that investors are transferring large amounts of ETH from cold wallets to exchanges.
From historical data, a significant increase in positive net inflow is usually positively correlated with rising selling pressure or high volatility. Currently, ETH’s price is consolidating just below $3,000, having recently pulled back from a high point. The $3,000 level has become a short-term resistance and an ideal price for fixed-amount selling. This influx of liquidity may imply two scenarios:
- Preparing for large-scale selling: Holders losing confidence and ready to sell.
- Hedging: Traders depositing assets as collateral for derivative positions.
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