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Bitcoin exchange inflows top 550,000 BTC after drop below $60,000

Bitcoin exchange inflows top 550,000 BTC after drop below $60,000

CryptoQuant analyst Darkfost said Binance and OKX deposit addresses saw the biggest combined BTC inflow of 2024 and the highest since the 2023 bear market, a sign of rising potential sell pressure.

BTC

Fact Check
The original Darkfost tweet and three independent news outlets all confirm the core facts: CryptoQuant analyst Darkfost reported ~550,000 BTC flowed into Binance and OKX deposit addresses (220k Binance + 330k OKX), the highest level since the 2023 bear market, after Bitcoin dropped below $60,000, interpreted as rising potential sell pressure. The only discrepancy is the year framing—the claim says 'biggest combined inflow of 2024' (event_time 2024), while sources are dated June 29, 2026 and describe it as 'largest since the 2023 bear market' / 'largest this year.' The substantive numeric and analytical claims are strongly corroborated, so the claim is likely true notwithstanding the year-label inconsistency.
Summary

Bitcoin’s move back below $60,000 was followed by a sharp rise in exchange-related inflows, with more than 220,000 BTC sent to deposit addresses linked to Binance hot wallets and more than 330,000 BTC to OKX-related deposit addresses, CryptoQuant analyst Darkfost said. The combined flow of more than 550,000 BTC was the largest this year and the highest since the 2023 bear market. Large transfers to exchange deposit addresses can signal that holders are preparing coins for possible sale, although the activity points to rising potential sell pressure rather than confirmed sales.

Terms & Concepts
  • hot wallets: Internet-connected wallets used for active transfers
  • deposit addresses: Exchange-linked wallet addresses for user deposits
  • sell pressure: Market conditions that can push prices lower