Binance Bitcoin Inflows Drop to 5,700 BTC, Falling Below 50% of Monthly Average Since 2020

According to CryptoQuant analyst Darkfost, Binance’s monthly Bitcoin (BTC) inflows have dropped to 5,700 BTC, which is less than half the average of 12,000 BTC registered since 2020 and only 25% of the 24,000 BTC that flowed into the exchange during the FTX crisis in late 2022, as shared in a
note on June 24
.

Data from Darkfost reveals that every significant deposit influx in the current cycle has corresponded with a local price peak. For instance, net inflows exceeded 17,000 BTC during last August’s $69,000 dip and surpassed 20,000 BTC in March when Bitcoin first hit six figures.

Each surge preceded a short-term decline, highlighting Binance’s function as a platform where holders shift latent selling intentions into market supply.

In contrast, the recent 5,700 BTC figure comes with Bitcoin stabilizing above $105,000 and volatility remaining near year-to-date lows. This amount is about 30% of the 13,200 BTC that transferred to Binance when Bitcoin crossed $100,000 in December 2024.

Darkfost believes this decline indicates a “holding phase,” suggesting both retail traders and larger groups are keeping their coins off exchanges, thereby reducing immediate selling pressure. Typically, traders send Bitcoin to exchanges when they are preparing to sell, so a decrease in deposits suggests fewer coins are ready for near-term liquidation.

As supply on order books diminishes while demand remains, the potential for upward movement increases, which is a pattern also noted by Glassnode
in May
, when it observed a “cooling off” of Binance sell-pressure during Bitcoin’s ascent to $104,000.

Context within broader exchange behavior

Binance controls the largest spot trading volume among centralized platforms, accounting for 37% of the average monthly centralized exchange trading volumes this year, based on data from The Block
.

Consequently, the deposit trend on this exchange acts as an indicator of the system-wide intent to liquidate.

The analyst opted to focus on inflows instead of outflows to eliminate noise from transfers associated with custodial reshuffles or exchange wallets. An uptick in deposits signifies an active decision to sell, while withdrawals can reflect storage preferences.

Darkfost applied a monthly mean to smooth out variations caused by macroeconomic news, such as the early June escalation involving Israel and Iran. Even after this adjustment, the latest inflow reading represents the lowest level recorded in over four years of data.

Darkfost warned that macroeconomic uncertainty and limited liquidity could still lead to sudden price fluctuations if a shock triggers fresh rounds of deposits. He advised monitoring any significant upticks toward or above the long-term average of 12,000 BTC as a potential signal of renewed distribution.

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