Large BTC deposit into Binance sparks speculation, potential signal for selling.

From Investing.com

August 31, 2024
4:30:20 PM:

A whale or institution deposited 2,364 BTC worth nearly $140 million into Binance, sparking speculation in the cryptocurrency market. Whether this signals selling or a strategic play is unknown, but deposits typically indicate an intention to sell. Net capital inflows into Bitcoin have slowed, suggesting investor profit-taking and loss mitigation. Bitcoin’s price remains in a downtrend, risking a larger correction if it falls below $56,000. Despite lackluster trading, Bitcoin whales are increasing in number, with 283 wallets holding at least 100 BTC in one month.

Read more at Investing.com: 2,364 BTC Stash Stuns World’s Largest Crypto Exchange: Details By U.Today