Alarming signal: Investors are sending bitcoins to Binance

I would like to say that if the exchange balance of the cryptocurrency increases, this trend threatens the market with a new fall. Traders usually send coins to trading floors for their subsequent sale. Just such investor behavior has been observed since mid-spring before the bitcoin collapse.

According to ByBt, 199,700 BTC were stored on Binance exchange wallets at the end of April. In June, that volume rose to 347,590 bitcoins. I will remind, in the middle of May, the leading digital currency was trading at $65,000, and then its value collapsed by more than 30%.

A similar trend has been observed since late August. In 30 days, Binance’s stock of exchange wallets increased by 29,717 bitcoins. For traders, such information is an alarming signal. It is quite possible that BTC has not yet reached the bottom, and the pullback will continue in the coming days.