Binance BTC inflows jump, but selloff signal remains unclear

BTC deposits to Binance increased, but there is still no clear evidence they are leading to large-scale selling, on-chain analyst CryptoOnChain said in a CryptoQuant contribution. CryptoOnChain said 4,617.90 BTC was deposited to Binance on Sept. 15, the largest amount during the review period. Across all exchanges, net inflows averaged 877 BTC per day. Even so, the analyst said the large deposits did not translate into actual selling. Net realized profit stood at $31.8 million, down 89% from a week earlier, while perpetual futures funding rates stayed in the 0.00-0.01 range, indicating leverage has not expanded significantly. Sellable BTC supply is increasing, but there is still no clear direction in leverage or U.S. spot demand, CryptoOnChain added.