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Bitcoin whale deposits on Binance double amid 14% June price drop, signaling increased selling pressure.

Market News
05 Jun 2026, 12:30 WIB
Blockonomi
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Bearish
Bitcoin whale deposits on Binance double amid 14% June price drop, signaling increased selling pressure.

Bitcoin has seen a sharp rise in whale deposits on Binance, reaching 8,200 BTC on June 2nd, the highest since February's drop. This surge coincides with a 14% price decline in June, indicating growing short-term selling pressure as large holders reposition. Despite significant absorption of over 1.24 million BTC by MicroStrategy and ETFs since early 2023, Bitcoin's price remains pressured near the $53,000 average investor cost basis, a level historically linked to bear market floors. Market watchers remain uncertain if this signals a deeper correction or a late-cycle sell-off.

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