Bitcoin’s wild ride continues, with prices swinging like a carnival ride. Just this week, it hit $87K, then plummeted to $81K. Now, it’s hovering around $82K, down 7.6% this week.
Market uncertainty reigns supreme, making it hard for investors to find their footing. Analysts are digging deep into Binance data to uncover trader secrets.
Binance User Activity: The Key to Bitcoin’s Mystery?
CryptoQuant’s Maartunn has some eye-opening stats on Binance user behavior. Over half of returning users make their second deposit within 16 days! Nearly 10% hit the deposit button on Day 1.
One-third of users reload their accounts by Day 7, proving Binance is a hotbed of active trading, not long-term investing.
Over 50% of Returning Binance Users Make a Second Deposit Within 16 Days
“Some interesting takeaways:
Nearly 10% return on Day 1, showing immediate trading interest.
By Day 7, one-third of users have already reloaded.”
— CryptoQuant.com (@cryptoquant_com) April 4, 2025
What Does This Mean for Bitcoin?
High-frequency trading is the name of the game. Quick deposits and withdrawals signal speculative behavior, driving sharp price fluctuations. The CryptoQuant Bull Score Index now stands at 10, indicating bearish conditions.
So, if you’re in, you better be quick and nimble. The market is a rollercoaster, and Bitcoin’s price could be the next big thrill or a steep dive. Stay tuned!
CryptoQuant Bull Score Index has been signaling bearish conditions (40 or below) since Bitcoin was at $96K.
100 represents the most bullish conditions and 0 the least bullish (or bearish).
The Index currently stands at 10.
— Julio Moreno (@jjcmoreno) April 3, 2025
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2025-04-05 08:12