Crypto news

The Bitcoin market has once again found itself at the epicenter of turbulence. After breaking through the psychologically important level of $60,000, a wave of panic swept over a significant portion of holders. My data confirms this led to a sharp increase in BTC deposits on the largest exchange — Binance. Over the past 24 hours, the average inflow surged to 7,600 BTC, more than double the monthly average of 3,880 BTC recorded on April 13. On Binance alone, this concentrated potential selling pressure amounting to approximately $479 million.

Such a reaction is a classic pattern for the current bearish trend. Each breakdown of a key level triggers a chain reaction: retail investors, in a panic, move coins to exchanges, preparing to exit positions. The $60,000 level has now become a true battlefield. On one side are "paper hands" capitulating under pressure; on the other are large players and "whales" who, conversely, use the weakness to accumulate. This is precisely where the maximum transfer of the asset occurs between these two opposing types of investors.

Signs of waning pressure

However, there is also an encouraging signal that I am closely monitoring. Despite the peak surge, the overall trend of exchange inflows is beginning to decline as the price correction continues. This suggests that the wave of panic selling is gradually exhausting itself. This episode differs from previous ones, such as the November drop to $84,000 or the February test of $60,000, when pressure persisted for much longer.

My analysis: The current panic spike represents the final stage of weak-hand capitulation. A sustained decrease in deposit volumes amid a sideways movement or a further price decline will be the key confirmation of seller exhaustion. If the historical pattern holds, we are on the verge of a local reversal, followed by a phase of accumulation and subsequent recovery. Keep an eye on on-chain data — they speak louder than any news.