#BTC Bitcoin Netflow To Binance Has Been Highly Positive During Past Day

The indicator of interest here is the “exchange netflow,” which keeps track of the net amount of Bitcoin entering into or exiting the wallets of any given centralized exchange. The metric’s value is calculated by subtracting the outflows from the inflows.

When the indicator has a positive value, the inflows overwhelm the outflows, and the platform is receiving transfers of a net number of coins right now. As one of the main reasons investors would want to deposit to the exchanges is for selling purposes, this trend can have bearish implications for the cryptocurrency’s price.

On the other hand, the negative indicator implies net withdrawals are taking place currently, which may be a sign that the holders are accumulating. Naturally, such a trend can prove to be bullish for the price in the long term.