Bitcoin Inflows To Binance Surge: Daily Average Hits 7,500 BTC
Bitcoin is consolidating above $100,000 but struggling to surpass $105,000. The market is stabilizing after recent volatility, though on-chain data highlights active profit-taking. Notably, Bitcoin inflows to Binance have risen sharply, reflecting increased selling pressure, particularly from short-term holders who have sustained losses. Despite this, Bitcoin's price remains resilient due to strong demand, stabilizing near the $100K psychological level. The weekly chart indicates that Bitcoin is supported by its 50-week moving average, aligning with a long-term bullish trend. If Bitcoin regains $110K, it could trigger recovery towards $117K–$120K; otherwise, a drop below $100K might signal further correction to $92K–$95K.
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Bitcoin Consolidates Above $100,000 Amidst Market Stabilization
Bitcoin is entering a consolidation phase, holding steady above the $100,000 mark but struggling to break past $105,000. The market appears to be stabilizing after weeks of volatility. However, on-chain data reveals that profit-taking remains active. According to top analyst Darkfost, since the exceptional liquidation event in early October, many investors have begun securing profits and scaling back their exposure as the current cycle nears its conclusion.
Increased Bitcoin Inflows to Binance Signals Selling Pressure
Data from CryptoQuant highlights a notable rise in Bitcoin inflows to Binance. The 30-day moving average of daily inflows has surged across October, averaging approximately 7,500 BTC per day. This marks the highest inflow rate since the March correction, indicating renewed selling pressure and cautious positioning among traders.
While such inflows usually signify profit-taking and short-term selling, Bitcoin’s ability to remain around the $100K level suggests resilient underlying demand, with buyers absorbing the supply entering the market. For now, this balance has prevented a deeper breakdown.
Short-Term Holders Amplify Selling Pressure
Darkfost explains that the increasing Bitcoin inflows to Binance and other exchanges highlight growing selling pressure in the market. Short-term holders (STHs), in particular, are major contributors to this trend. These participants are typically reactive, responding quickly to volatility and shifts in market sentiment.
With a realized price near $112,000, many STHs have been underwater for about a month, leading them to send significant amounts of BTC to exchanges at a loss. Historically, such behavior is associated with late-stage corrections or a “cleansing phase,” during which speculative capital exits the market while long-term investors absorb the supply. This sets the stage for stability and potential growth.
Potential for Stability and Recovery Near $100,000
If demand continues to offset the wave of short-term selling, Bitcoin could establish a stronger base above $100,000. This would create conditions for gradual recovery as selling pressure diminishes and confidence returns. Such a foundation may pave the way for Bitcoin to climb higher, contingent on fading selling momentum and renewed bullish sentiment.
Weekly Chart Shows Resilience at Key Support Levels
Bitcoin is consolidating within a tight range of $102,000 to $107,000, showcasing resilience around the critical $100,000 psychological level. On the weekly chart, BTC remains supported by the 50-week moving average (blue line), acting as a strong dynamic floor. Despite multiple retests in recent weeks, bulls have successfully defended this level, underscoring strong underlying demand even amidst intensifying profit-taking.
The broader structure maintains a healthy long-term uptrend, with the 100-week (green) and 200-week (red) moving averages sloping upward. However, the absence of strong volume during recent rebounds signals caution among market participants, who are waiting for confirmation of renewed momentum before increasing their positions.