Binance ETH Reserves Drop to May Lows, Dem Show Bullish Momentum
On-chain data dey show say Binance ETH reserves don fall from 4.69 million to 3.87 million ETH between August and October, meaning dem withdraw 820,000 ETH. Binance ETH reserves dey now reach levels wey dem last see for May. The way dem dey withdraw reflect say people dey shift to self-custody and big whale dem dey gather, e dey reduce exchange supply and make sell pressure low. For history, whenever Binance ETH reserves drop below 4 million, e dey usually come before price go up. Traders suppose dey watch Binance ETH reserves, exchange outflows, market liquidity, and trading volume to sabi if price go go up.
Bullish
Di kain long we Binance ETH reserves don dey fall mean say exchange supply dey reduce. For history, wen Binance ETH reserves drop below 4 million, liquidity wahala don trigger ETH price rally dem. For short term, tight exchange supply fit make price dem move pass as less coin dey available to sell. For long term, more people dey keep their own and big whales dey gather more fit make holders sure, reduce sell pressure and set stage for better up movement. Traders wey dey watch Binance ETH reserves, exchange outflows and trading volume fit use this signal to sabi when to enter and expect say ETH price fit rise.