Over 236K BTC flooded Binance and OKX deposit addresses. Analysts flag rising sell-side pressure as Bitcoin trades in a months-long range.
Bitcoin continues to hold within a narrow trading range that has persisted for nearly three months. The prolonged consolidation keeps testing investor patience on all sides.
Sentiment swings sharply with even the smallest price moves.
Now, a fresh wave of on-chain data is attracting interest. More than 106,000 BTC moved into Binance deposit addresses in a single day, raising sell-off concerns.
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Bitcoin Pierced $126K – Now One Analyst Says the Drop to $60K Has Begun
BTC Exchange Inflows Surge Past Yearly Averages
On-chain analyst Darkfost flagged the striking jump in Bitcoin inflows.
According to Darkfost, over 106,000 BTC flowed into Binance deposit addresses. Meanwhile, OKX recorded roughly 130,000 BTC in similar inflows on the same day.
Those figures dwarf the yearly averages by a wide margin.
Darkfost noted that Binance’s average sits near 44,000 BTC, while OKX averages around 74,000 BTC. The analyst pointed out that activity at these levels had not been seen since the tail end of the previous bear market.
Deposit addresses serve as a staging point before funds reach an exchange’s main operational wallets.
When users plan to sell BTC, they typically route funds through these addresses first. A sharp spike in such inflows often signals growing intent to liquidate.
Bitcoin exchange inflows signal rising sell pressure, Source| Darkfost/x
Sell-Side Pressure Builds as Bitcoin Holds a Tight Range
Darkfost described the surge as a signal of rising sell-side pressure from investors.
The data reflects the psychological tension gripping the market right now. Traders appear torn between chasing a potential breakout higher and cutting losses ahead of further downside.
According to CoinGecko data, Bitcoin traded at $76,812 at the time of writing. The asset posted a 2.37% gain over 24 hours and climbed 3.08% across the past week.
Still, the broader trend remains range-bound, with no confirmed breakout in either direction.
$BTC is back above the $76,000 level.
ETFs are buying now, which is a sign of spot demand.
IMO, Bitcoin could tap the $78,000 level again to fill the CME gap before the downtrend. pic.twitter.com/u72TBiSCtC
— Ted (@TedPillows) April 21, 2026
Analyst Ted noted that BTC had reclaimed the $76,000 level. He pointed to ETF buying as a sign of spot demand returning.
Ted suggested the price could revisit $78,000 to fill an open CME gap before any directional move plays out.
Coinbase Premium Signals Demand Strength Under the Surface
Crypto analyst Ardi highlighted another key metric: the Coinbase premium.
According to Ardi, every major rally within the current range started only after the premium flipped positive and held there.
Ardi mapped out the pattern clearly on social media. Bitcoin climbed from $62,000 to $75,000 during one green premium phase.
A red premium followed, and the price dumped back to $65,000. Green premium returned, and BTC ran from $67,000 to $78,000 shortly after.
Coinbase premium has been doing more of the work in this range than people realise.
Every double-digit rally higher has only started once premium flipped and held green.
$62K to $75K.
Then red premium and dump straight back to $65K.
Then green again and $BTC runs from… pic.twitter.com/LMM39I0Vdg— Ardi (@ArdiNSC) April 21, 2026
Ardi noted that as long as the premium holds steady and green, the range can continue grinding higher.
Any flattening or return to red premium would serve as an early warning. It would suggest demand is thinning and the current move is losing steam.
Source: https://www.livebitcoinnews.com/236000-btc-flood-binance-and-okx-is-a-major-bitcoin-sell-off-near/