Analyst: Largest BTC inflow of the year to Binance may signal market bottom

Between Feb. 2 and 3, Binance received its largest BTC inflow of the year, totaling approximately 56,000 to 59,000 BTC, crypto analyst Darkfost noted in a CryptoQuant contribution. The analyst suggested that fear appears to have spread among investors as BTC threatened the $74,000 level, a key long-term trend line. Short-term holders, who are sensitive to price fluctuations, drove the deposit activity, with 54,000 BTC being sent to exchanges at a loss on Feb. 2. Darkfost explained that while the record inflow to Binance is creating real selling pressure on the spot market, it paradoxically suggests that BTC has entered an oversold region. The analyst added that market bottoms have historically formed during such phases of investor capitulation and panic.