Data: ETH Flow Into Binance Hits Highest Level Since July, Possibly Indicating Whale is Getting Ready to Sell

BlockBeats News, January 2nd, CryptoOnchain posted on social media that Ethereum saw a massive inflow of funds to Binance, with a net inflow soaring to 24,500 ETH, hitting the highest level since July. Such a significant net inflow usually indicates more ETH being transferred to the trading platform, often a harbinger of impending selling pressure. This phenomenon may reflect whales preparing to sell off, or traders adjusting positions for derivative hedging.

Currently, ETH is consolidating near $2980, and an increase in exchange supply may limit short-term upside potential. Historically, similar surges in fund inflows have often been accompanied by higher volatility or a downtrend. Overall, the current pattern still leans bearish in the short term, so holders of long positions need to remain cautious.