Bitcoin Selling Pressure Intensifies as Binance Records Massive Inflows Amid Price Correction

TLDR: Binance recorded 56,000-59,000 BTC inflows on February 2-3, marking the largest deposits since January started. Short-term holders transferred 54,000 BTC at a loss on February 2nd, signaling panic selling at $74,000 support. Institutional supply of 155,000 BTC sits underwater between $85K-$95K, creating potential distribution resistance. Analysts forecast Bitcoin decline to $50,000 by Q2 2025 following anticipated bounce to $85,000-$95,000 range. Bitcoin’s recent price correction has triggered significant movement of coins to exchanges, with Binance recording its highest inflows since January began. Between February 2nd and 3rd, the leading exchange received between 56,000 and 59,000 BTC as the cryptocurrency traded near the critical $74,000 support level. This accumulation of coins on exchanges typically signals potential selling pressure, raising concerns among market participants about near-term price direction and the sustainability of the current trend. Panic Selling Emerges at Critical Technical Level The substantial inflows to Binance occurred as Bitcoin tested a pivotal price zone around $74,000. A sustained breakdown below this threshold would challenge the asset’s long-term upward trajectory. The timing of these transfers reflects growing anxiety among certain investors who moved their holdings to exchanges in anticipation of further declines. Binance continues to dominate cryptocurrency trading volumes globally. This position naturally makes it the primary destination for coins during periods of market stress. The exchange absorbed the majority of selling pressure during this window, according to data shared by analyst Darkfost on X. BTC inflows trigger FUD as selling pressure builds on Binance As BTC continues its corrective phase, we observed on February 2nd and 3rd the largest BTC inflows to Binance since the beginning of the year These inflows are not insignificant. They occurred at a key moment,… pic.twitter.com/xmROStdOs7 — Darkfost (@Darkf...