Bitcoin Exchange Inflow CDD data on Binance shows a clear decline in the movement of long-held coins into the platform. The indicator has fallen to around 155, its lowest level since last May. This decline follows strong increases in late May and early June, when the reading repeatedly exceeded 500 and even surpassed 1,000.

The current downturn suggests a relative decrease in the movement of older coins to Binance, meaning that Bitcoin inflows to the platform are now less associated with coins that have remained dormant for extended periods. This contrasts sharply with the activity seen in May, when the indicator recorded significant increases alongside larger movements of older coins.

Meanwhile, Bitcoin is trading near $63,000, while the indicator remains relatively low. This situation may reduce the likelihood of significant selling pressure resulting from large volumes of older coins moving to the platform. However, it does not, in itself, constitute a definitive bullish signal.

However, if the indicator begins to rise again significantly, especially alongside weakness in Bitcoin’s price, this could indicate a return of activity among long-term holders and an increased likelihood of selling pressure in the market.

Written by Arab Chain