Bitcoin Inflows To Binance Surge: Daily Average Hits 7,500 BTC

In October 2023, Bitcoin experienced a significant increase in inflows to Binance, averaging 7,500 BTC daily, the highest since the March correction. This surge comes as Bitcoin stabilizes above the $100,000 mark, facing resistance at $105,000. Analysts, including Darkfost, note that many investors are securing profits and reducing their exposure following a liquidation event earlier in the month. While this profit-taking indicates a cautious market sentiment, Bitcoin's resilience at the $100K level suggests robust demand, as buyers continue to absorb the incoming supply. The current market dynamics reflect a consolidation phase, with potential recovery speculated toward $115K–$120K, although the cycle may be nearing its end.