Binance receives $2.4B in BTC, ETH deposits in a week, but buying power lags

Over the past seven days, Binance has received approximately $2.4 billion in BTC and ETH deposits, signaling rising selling pressure, yet new buying power to absorb these assets has been scarce. Cointelegraph, citing a CryptoQuant contribution from analyst CryptoOnchain, reported that the inflows included roughly $1.33 billion in BTC and $1.07 billion in ETH. In contrast, stablecoin inflows during the same period amounted to only $42 million. CryptoOnchain further explained that the volume of BTC being withdrawn from exchanges is also decreasing, suggesting a decline in long-term holding demand from whale investors. According to the analyst, this combination of rising exchange deposits and weaker demand from whales could negatively impact any potential price rally.