Binance’s Bitcoin Drain? A Miracle or a Trap? đŸ’žđŸ”„

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Bitcoin, that fickle lover of the digital realm, BTC $109 226 24h volatility: 1.6% Market cap: $2.17 T Vol. 24h: $60.89 B – danced a brief waltz of hope on Oct. 20, only to be dragged back into the abyss by the bears, who wield their claws with the precision of a Tsar’s decree. đŸ»

The global crypto market cap, that grand theater of fortunes, shrank by 3% to $3.66 trillion, as if the very cosmos had decided to play a cruel joke. BTC, that fickle lover, plummeted from its lofty peak of $111,700 to the humble depths of $108,000, as if the market itself were a tragic opera. 🎭

Yet, lo! CryptoQuant’s Burak Kesmeci, that sage of the blockchain, declared that the Bitcoin selling pressure on Binance has “sharply” declined. A miracle? Or merely the calm before the storm? 🧠

Selling Pressure Fades as Binance Netflow Turns Sharply Negative

“Investors prefer holding over selling-perhaps they’ve finally learned the lesson of the 2008 crash, or maybe they’re just waiting for the next one.” – By @burak_kesmeci 🧹

– CryptoQuant.com (@cryptoquant_com) October 21, 2025

According to Kesmeci’s charts, the Bitcoin net flows into Binance have been negative for 30 days, a sign of “accumulation phases” or, as the skeptics whisper, a desperate attempt to hide the truth. “Daily noise doesn’t define the trend-unless the trend is chaos,” Kesmeci quipped. 🌀

Market Still Uncertain

Bitcoin is flowing out of Binance, but the buying force is as weak as a mouse in a lion’s den. CoinGlass reports $108 million in USDT inflows-pathetic, really, like trying to fill a bucket with a sieve. đŸ§č

Meanwhile, USDT, that steadfast servant of the market, USDT $1.00 24h volatility: 0.0% Market cap: $182.05 B Vol. 24h: $102.78 B – continues its silent march, while the top 13 exchanges weep over a $93 million net outflow. A tragedy of epic proportions. đŸ„ș

Despite the bullish on-chain data, the market remains a prisoner of macro storms. The 100% tariff threat on China, that harbinger of doom, triggered $19.35 billion in liquidations and a $400 billion selloff. A true tale of woe. 🧹

Even the Fed’s “Payments Innovation Conference” and Senator Gillibrand’s pro-crypto roundtable couldn’t save the day. The crypto market, that fickle flibbertigibbet, is now driven by short-term trends and volatility so wild, it could make a Cossack blush. 🐎

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2025-10-21 16:26