Analyst: 550K BTC inflow to Binance, OKX largest since 2023 bear market

Crypto analyst Darkfost noted on X that a recent inflow of 550,000 BTC, valued at $33 billion, to Binance and OKX marks the largest deposit to exchanges since the 2023 bear market. He explained that selling pressure from investors has sharply increased as Bitcoin has continued to trade sideways since February and recently fell below the $60,000 level. More than 220,000 BTC flowed into Binance deposit addresses, while over 330,000 BTC was sent to OKX. Darkfost pointed out that these figures are significantly higher than the average annual inflows of approximately 60,000 BTC for Binance and 95,000 BTC for OKX. He added that such large-scale exchange inflows often precede selling activity. Currently, investor sentiment is unstable, caught between the fear of missing out (FOMO) on a potential rally and the fear of further losses, the analyst concluded.