24h Ethereum CEX Shift: Bybit & Kraken to Binance
Coinglass data reveals shifting Ethereum CEX inflows over two 24-hour sessions. In the first period, exchanges saw a combined 25,500 ETH inflow led by Bybit (29,100 ETH), Kraken (23,400 ETH) and Bithumb (2,309 ETH), while Binance recorded a 31,600 ETH outflow. In the latest 24 hours, however, Ethereum posted a net CEX inflow of 2,412 ETH. Binance dominated inflows with 1,829.5 ETH, followed by Coinbase Pro at 944.7 ETH and Bitfinex at 83.2 ETH. Bybit registered the largest outflow, withdrawing 280.5 ETH. These shifts highlight dynamic liquidity patterns: large CEX inflows often signal sell pressure, whereas outflows can indicate accumulation. Traders should monitor Ethereum CEX inflow metrics alongside on-chain indicators to anticipate short-term price moves and inform entry or exit strategies.
Bearish
The combined data shows sustained Ethereum CEX inflows across two sessions, with a significant 25.5k ETH inflow initially and a further 2.4k ETH net inflow later. Large deposits to high-liquidity venues—particularly Binance’s 1.83k ETH and earlier Bybit/Kraken flows—signal that traders are positioning ETH for sale, increasing short-term downward pressure. While initial Binance outflows hinted at accumulation, the prevailing trend of inflows outweighs outflows, suggesting potential distribution. If this pattern continues, it could suppress price gains and prolong consolidation or correction, making the overall outlook bearish.