A significant observation in on-chain data indicates that ETH was deposited into Binance on June 6, just one day after stablecoins were withdrawn from the same platform.
Stablecoin Outflow:
As the first chart highlights, June 5 marked a substantial net outflow of stablecoins from Binance, exceeding $500 million.
* Historically, such large-scale withdrawals are considered a sign of reduced buying pressure or profit-taking behavior.
* Risk-off sentiment, where traders exit stablecoins in anticipation of market volatility.
Ethereum Inflow:
The second chart reveals a sudden spike in Ethereum deposits into Binance on June 6, exceeding 50,000 ETH—one of the largest single-day exchange inflows in recent weeks.
Bitcoin’s UTXO Age Bands: Key Support and Resistance Dynamics:
The third image presents Bitcoin’s Realized Price - UTXO Age Bands, showing an intriguing intersection between the 1D-1W and 1W-1M bands, followed by a rebound to retest $105,000.
1D-1W Band Crossing Below 1W-1M:
* When the 1D-1W band (short-term holders) crosses under the 1W-1M band (slightly longer-term holders), it often signals Short-term bearish pressure, as newer investors sell.
* Historically, this crossover acts as a dynamic support/resistance level, adjusting with price movements.
Support/Resistance Role:
* Historically, the 1D–1W band acts as a dynamic pivot, frequently providing support during bullish phases or resistance during corrections.
* The current retest of the $105K level signals that this crossover zone is now under scrutiny from the market, and the price response in this area will be key in determining short-term direction.
Conclusion:
* The stablecoin exodus may indicate caution, while the ETH inflows reflect aggressive positioning for either a sell-off or a speculative trade.
* The UTXO crossover and subsequent BTC bounce underline a critical inflection point, where traders are eyeing whether short-term holders reclaim control or if longer-term investors hold the line.
Written by Amr Taha
