Retail BTC deposits on Binance fall to record lows

Despite Bitcoin reaching a new all-time high this year, daily deposits from retail investors to Binance have fallen to a record low, averaging just 411 BTC, Cointelegraph reported, citing data from CryptoQuant. This marks a structural decline from December 2021, when daily deposits reached approximately 2,675 BTC. According to a CryptoQuant analysis, the decrease is likely due to the launch of spot Bitcoin ETFs, which have provided an easier investment path for individual investors. The analysis also noted that while retail deposits have dwindled, large-scale whale investors have been accumulating spot positions or taking long futures positions, suggesting that a price bottom may have formed.