TechFlow, August 18 — According to NewBTC, on-chain analyst BorisVest stated that based on an analysis of Binance's fund flows, Bitcoin may face selling pressure in the next one to two weeks. Data shows that Binance’s net Bitcoin inflow has turned positive while outflows have decreased, indicating that Bitcoin is currently in a distribution phase. Additionally, Binance’s exchange reserves continue to grow, suggesting investors are transferring Bitcoin to the exchange to sell for profit.
BorisVest noted that Binance’s substantial trading volume plays a critical role in influencing the cryptocurrency market, and as such, whale sell-offs often exert significant downward pressure on Bitcoin’s price as new buyers enter the market.
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