A big outflow of bitcoins on Binance,BTC will soon surpass the 40K dollar mark?

Chain analysis shows a large bitcoin outflow from Binance cryptocurrency exchange. BTC will hold a rally and break 40 thousand dollars.

Binance On Bitcoins In A Big Exodus
As cryptoquant’s message stated, Monday’s crypto exchange saw a big exit from BTC.

The Binance funds exit Indicator shows the number of bitcoins transferred from Binance exchange wallets to personal or other exchange wallets.

On the other hand, the influx shows how much BTC is being sent to Binance wallets from other types of wallets.

The most interesting indicator here is Binance’s net bitcoin flow, which is just one input minus one output.

Binance BTC netflow = input-output

Here is a chart for Binance bitcoin netflow, showing the trend of change in Indicator value over the past few weeks:

Net BTC flow in Binance shows deep negativity for July 26 / source: CryptoQuant
As you can see from the chart above, crypto exchange is currently showing two big exits. One was more than 10 thousand BTC, and the other was more than 31 thousand BTC!

It also appears to have a flux of about 10K, similar to one of the outputs. Take a look http://chain.info yes, show that this input and output is actually the same transaction between Binance internal portfolios.Dec.

Read On / Bitcoin Investments In Mining Companies Are Also A Sign Of Corporate Recognition

However, the 31k BTC output is not part of the internal process. Usually negative net flows mean there is not a lot of sales pressure in the market. Large negative currents in a network like this can cause prices to rise.

BTC price
At the time of writing, the price of Bitcoin hovered around 37 thousand dollars and rose 26% in the last 7 days. Growth compared to last month is about 14%.

Here is a chart showing the trend of cryptocurrency price changes:

BTC price rises suddenly/) source: BTCUSD on TradingView
Bitcoin finally broke the $ 35k resistance level. Previously, cryptocurrency was stuck in the December of $ 30k to $ 35k.

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