The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Bitcoin

Huge Bitcoin Outflows On Binance, BTC To Break $40k Soon?

by Miki 07/27/2021
by Miki 07/27/2021 0 comment

On-chain analysis shows huge Bitcoin outflows from crypto exchange Binance. BTC might keep the rally up and break $40k.

Huge Bitcoin Outflows On Binance

As pointed out by a CryptoQuant post, the crypto exchange has observed huge outflows of BTC on Monday.

The Binance Outflows indicator shows the amount of Bitcoin transferred from the Binance exchange wallets to personal or other exchange wallets.

On the other hand, the inflows show how many BTC were sent into Binance wallets from other types of wallets.

The indicator of most interest here is the the Binance Bitcoin netflow, which is just the inflow minus the outflow.

Binance BTC netflow = Inflow – Outflow

Here is a chart for the Binance Bitcoin netflow that shows the trend in the value of the indicator over the past couple of weeks:

Bitcoin Binance Netflow

BTC netflow on Binance shows deep negative for 26 July | Source: CryptoQuant

As the above graph shows, the crypto exchange is showing two huge outflows right now. One of them was more than 10k BTC, while the other one was around a whopping 31k BTC!

There also seems to be an inflow of about 10k, similar to the value of one of the outflows. A look at http://chain.info shows that, yes, this inflow and outflow is actually the same transaction between Binance internal wallets.

Related Reading | Investing In Bitcoin Mining Businesses Is Also A Sign Of Institutional Acceptance

The 31k BTC outflow, however, isn’t part of any internal transaction. Usually negative netflows mean there isn’t much selling pressure in the market. Hugely negative netflows, like this one, can make the price go up.

BTC Price

At the time of writing, Bitcoin’s price is floating around $37k, up 26% in the last 7 days. The increase compared to last month is about 14%.

Here is a chart showing the trend in the price of the crypto:

Bitcoin Price Chart

BTC's price suddenly surges up | Source: BTCUSD on TradingView

Bitcoin has finally broken through the $35k resistance level. Earlier, the crypto was stuck in the $30k to $35k range-bound market for quite some while as its market volatility reached yearly lows.

Now, however, the rumors regarding Amazon opening up to BTC and crypto payments has helped drive up the coin’s price.

Related Reading | Bitcoin On Track To $100K, Why The Bull Cycle Could Be Just In Its Early Days

It’s looking likely that the price of BTC will continue to rise to $40k. Though, it remains to be seen if the digital currency can break past that level.

The Bitcoin rise could very well stop after hitting the $40k resistance level, and the market could become range-bound below this level. Or perhaps it will carry the bullish momentum and break past the range to continue further beyond.

Source link

Views: 2
40KBinanceBitcoinbreakBTCHugeoutflows
Share
0
FacebookTwitterPinterestEmail
previous post
Binance to Expunge AUD, EUR, GBP Margin Trading Pairs amidst Increased Scrutiny
next post
Amazon Denies Accepting Bitcoin Payments, BTC Price Drops Afterward

Related Posts

Elon Musk thinks this individual could be the...

12/29/2021

Bitcoin price trades under $48k as $6 billion...

12/29/2021

Indian security regulator warns mutual funds against investing...

12/29/2021

Bitcoin Will Remain ‘Digital Gold’, But Not A...

12/29/2021

Key Factors that Propelled Ether’s 4X Growth over...

12/28/2021

Gold Proponent Peter Schiff Claims Bitcoin is Losing...

12/28/2021

Trend Is Again Shifting From Outflows To Inflows

12/28/2021

Why Bitcoin Will Never Surpass The Market Cap...

12/28/2021

Crypto hacks led to $9.8 billion in losses...

12/28/2021

Is Bitcoin (BTV) Going To Hit $100k? Ambitious...

12/28/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • DeFi Project Spotlight: Raydium, Solana’s Top Automated Market Maker

  • Goldman Sachs Becomes First Major US Bank to Trade Bitcoin Futures

  • Litecoin, Filecoin, Sprint Value Evaluation: 5 June

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$30,082.003.08%
  • ethereumEthereum(ETH)$2,003.271.89%
  • tetherTether(USDT)$1.00-0.09%
  • usd-coinUSD Coin(USDC)$1.000.05%
  • binancecoinBNB(BNB)$304.643.23%
  • rippleXRP(XRP)$0.4187120.81%
  • Binance USDBinance USD(BUSD)$1.000.16%
  • cardanoCardano(ADA)$0.530.21%
  • SolanaSolana(SOL)$51.831.53%
  • dogecoinDogecoin(DOGE)$0.0863080.40%
  • polkadotPolkadot(DOT)$10.000.15%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$30,087.003.08%
  • Lido Staked EtherLido Staked Ether(STETH)$1,968.561.77%
  • AvalancheAvalanche(AVAX)$29.75-3.24%
  • tronTRON(TRX)$0.0735311.89%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.000012-0.71%
  • daiDai(DAI)$1.000.10%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$70.994.50%
  • CronosCronos(CRO)$0.1945853.10%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$4.960.51%
  • matic-networkPolygon(MATIC)$0.65-0.95%
  • FTX TokenFTX Token(FTT)$30.661.34%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.98-1.53%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$193.95-0.40%
  • RareRare(RARE)$0.0461220.00%
  • chainlinkChainlink(LINK)$7.100.86%