A CryptoQuant analyst hinted at declining selling pressure on the largest cryptocurrency exchange, but the market remains uncertain.
By Wahid Pessarlay
Editor Julia Sakovich
Updated
2 mins read
Bitcoin BTC $108 473 24h volatility: 2.1% Market cap: $2.16 T Vol. 24h: $59.09 B , along with the broader crypto market, recorded yet another short-lived upward momentum on Oct. 20 as bears took control once again.
The global crypto market cap decreased by 3% to $3.66 trillion, according to CoinMarketCap data. BTC plunged from its daily high of over $111,700 to $108,000 again.
However, CryptoQuant analyst Burak Kesmeci wrote that the Bitcoin selling pressure on Binance has “sharply” declined.
Selling Pressure Fades as Binance Netflow Turns Sharply Negative
“This suggests that investors prefer holding over selling, which typically aligns with accumulation phases in market cycles.” – By @burak_kesmeci pic.twitter.com/gxN48Jhc2v
— CryptoQuant.com (@cryptoquant_com) October 21, 2025
According to the chart Kemeci presents, the overall Bitcoin net flows into Binance have been negative on average over the past 30 days. The analyst translates the movement as a sign of “accumulation phases” despite the market turbulence.
“Daily noise doesn’t define the trend — the 30-day average does,” Kesmeci wrote.
Bitcoin is flowing out of Binance, but the buying force is still relatively weak. According to CoinGlass data, the leading exchange recorded $108 million in USDT inflows over the past 24 hours.
On the other hand, the USDT USDT $1.00 24h volatility: 0.0% Market cap: $182.04 B Vol. 24h: $101.97 B net flows to the top 13 exchanges, tracked by CoinGlass, remain negative, recording a net outflow of $93 million over the past day.
Despite the bullish on-chain data, the market has proven to be affected by negative macro events.
The new 100% tariff threat on China, which triggered $19.35 billion in liquidations and a $400 billion selloff, is still a dominant negative catalyst for the cryptocurrency market.
Even bullish expectations of the two upcoming macro events on Oct. 21 and 22 (the Fed’s “Payments Innovation Conference” and the pro-crypto roundtable, led by Democratic Senator Kirsten Gillibrand, with industry leaders) couldn’t hold the bullish momentum.
At this point, the crypto market is driven by short-term trends and is experiencing high volatility. This momentum could continue until there’s macro clarity so that investors would make more informed decisions for investing in high-risk assets.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.
