Market Sentiment Hits Low As Binance Has Largest Bitcoin Inflow Ever

The price of Bitcoin dips below $40k, triggering bearish sentiment. BTC is now down 40% from its highs, making this in line with the worst drops of 2017. Currently, Bitcoin is holding the 200-day moving average, having wicked below it briefly during the early hours.

Source: BTCUSD on

William Clemente III noted that Bitcoin inflows into Binance have never been higher, at around 27k units. This would suggest sellers are keen to liquidate their holdings, adding to the

  • Strike Drives Bitcoin Forward as El Salvador Becomes World’s First Country to Adopt Bitcoin as Legal Tender

  • El Salvador To Declare Bitcoin As Legal Tender

  • The NFT bubble may have popped, but the sector is still primed for expansion