The Bitcoin price faced overwhelming bearish pressure this past week, but it 
appears that this bearish story has been building up for much longer than was 
apparent in BTC&#8217;s previous price action. According to a recent on-chain 
analysis, the Bitcoin price has been under sell pressure on the largest 
cryptocurrency exchange for more than a week. Binance Bitcoin Inflows Signal 
Sell Pressure For 48 Consecutive Days In a recent QuickTake post on 
CryptoQuant, a pseudonymous on-chain analyst, Crazzyblockk, revealed an 
ongoing streak of Bitcoin selling on Binance, the world’s leading crypto 
exchange by trading volume. The relevant indicator referenced in the post was 
the “BTC Exchange Net Flow Indicator (IE-Adjusted, 7D MA)” metric. Related 
Reading: Are Institutions Crashing The Bitcoin Price On Purpose? Here’s What 
People Are Saying The on-chain metric tracks the 7-day average net amount of 
Bitcoin entering or leaving Binance, excluding internal wallet transfers. It, 
thus, indicates whether users are predominantly depositing BTC (sell pressure) 
or withdrawing BTC (accumulation). According to Crazzyblockk, the stream of 
bearish pressure that has lasted the past 48 days on Binance began as mild 
selling on April 19. On May 28, however, readings from the metric escalated 
into territory that connotes strong sell pressure for Bitcoin, and has 
remained the case since. Crazzyblock highlighted that during this 48-day 
period, Binance reserves have risen from 619,529 to 659,488 BTC, representing 
approximately 39,958 BTC in growth. Notably, the crypto analyst pointed out 
that June 2 saw the highest level of sell pressure, as reflected in the daily 
adjusted net inflow’s peak of +8,791 BTC and the 7-day moving average’s rise 
to +0.844. Binance Bear Pressure Not Whale-Driven In an interesting turn of 
events, Crazzyblockk highlighted that both the Bitcoin sell pressure on 
Binance and the 7-day Moving Average have declined from their recent summits. 
&#8220;By June 5, the daily adjusted inflow had pulled back to +1,679 BTC and the 7D 
MA had compressed to +0.691,&#8221; the analyst noted Also worth noting is the 
average participation of Bitcoin’s whales during this 48-day bear period. As 
Crazzyblockk stated, whales accounted for an average of 46.76% of Binance 
inflows, with a range of 34.96% to 65.95%. This, explained the on-chain 
analyst, is not typical of institutional distribution events. As such, the 
crypto pundit concluded that Binance inflows are unlikely to be primarily 
driven by BTC&#8217;s large players. Crazzyblockk pointed out that there was 
recently an accumulation signal (seen on March 14), which preceded the 48-day 
sell streak that played out. Given that both the 7D MA and daily flows have 
begun to decline, the market is in an uncertain phase. It remains to be seen 
whether this concurrent decline in selling pressure is a genuine reversal or 
merely a temporary break in the broader distribution. Crazzyblockk concluded 
that the answer, and perhaps BTC&#8217;s next direction, lies in the next several 
sessions on Binance. As of this writing, the Bitcoin price stands at around 
$61,073, down 0.9% over the past day. Featured image from iStock, chart from 
TradingView

The Bitcoin price faced overwhelming bearish pressure this past week, but it appears that this bearish story has been building up for much longer than was apparent in BTC&#8217;s previous price action. According to a recent on-chain analysis, the Bitcoin price has been under sell pressure on the largest cryptocurrency exchange for more than a &#8230;

Bitcoin Price Under Bearish Pressure For 48 Straight Days On Binance

The partnership could revolutionize industrial AI, enhancing efficiency and 
safety in critical sectors, potentially setting new industry standards.
The post Hitachi partners with Intel to enhance AI transformation in key 
industries appeared first on Crypto Briefing.

The partnership could revolutionize industrial AI, enhancing efficiency and safety in critical sectors, potentially setting new industry standards. The post Hitachi partners with Intel to enhance AI transformation in key industries appeared first on Crypto Briefing.

Hitachi partners with Intel to enhance AI transformation in key industries

SpaceX&#8217;s IPO could reshape market dynamics, influencing tech stock liquidity 
and highlighting the speculative nature of future revenue projections.
The post SpaceX targets $1.77T IPO valuation as Morgan Stanley projects $3.4T 
revenue by 2040 appeared first on Crypto Briefing.

SpaceX&#8217;s IPO could reshape market dynamics, influencing tech stock liquidity and highlighting the speculative nature of future revenue projections. The post SpaceX targets $1.77T IPO valuation as Morgan Stanley projects $3.4T revenue by 2040 appeared first on Crypto Briefing.

SpaceX targets $1.77T IPO valuation as Morgan Stanley projects $3.4T revenue by 2040

The SEC has declared effective the registration statement tied to Securitize’s 
planned merger with Cantor Equity Partners II. If shareholders approve the 
deal, the tokenization firm is expected to list on the NYSE under the ticker 
SECZ. Securitize Expands Wall Street Tokenization Push as SEC Clears SPAC Deal 
Securitize is a step closer to becoming […]

The SEC has declared effective the registration statement tied to Securitize’s planned merger with Cantor Equity Partners II. If shareholders approve the deal, the tokenization firm is expected to list on the NYSE under the ticker SECZ. Securitize Expands Wall Street Tokenization Push as SEC Clears SPAC Deal Securitize is a step closer to becoming &#8230;

Securitize Moves Toward NYSE Listing After SEC Clears Merger Filing

Market resilience amid geopolitical tensions highlights the effectiveness of 
strategic reserves and diversified supply sources in stabilizing oil prices.
The post Oil prices stay below $100 despite Strait of Hormuz closure appeared 
first on Crypto Briefing.

Market resilience amid geopolitical tensions highlights the effectiveness of strategic reserves and diversified supply sources in stabilizing oil prices. The post Oil prices stay below $100 despite Strait of Hormuz closure appeared first on Crypto Briefing.

Oil prices stay below $100 despite Strait of Hormuz closure

Heightened US-Iran tensions could destabilize global oil supply and intensify 
regulatory scrutiny on crypto markets, impacting investors.
The post Iran fires warning shots at US destroyers near Strait of Hormuz, 
raising oil and crypto market jitters appeared first on Crypto Briefing.

Heightened US-Iran tensions could destabilize global oil supply and intensify regulatory scrutiny on crypto markets, impacting investors. The post Iran fires warning shots at US destroyers near Strait of Hormuz, raising oil and crypto market jitters appeared first on Crypto Briefing.

Cryptocurrency price in THB

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