According to Crypto Quant analyst Darkfost, over 550,000 bitcoins flowed into deposit addresses linked to Binance and OKX on June 29, marking the largest inflow this year and the highest level since the 2023 bear market. The breakdown shows 220,000 BTC transferred to Binance-associated addresses and 330,000 BTC to OKX addresses.
The large-scale inflow comes as Bitcoin recently dropped below the $60,000 level, with some investors showing panic amid the price decline. The analyst noted that the data reflects increased selling pressure, though it does not necessarily mean all transferred bitcoins have been sold.