Key Notes

Binance is experiencing Bitcoin outflows as a sign of accumulation.

The selling pressure is fading, but still no signs of strong stablecoin inflows.

The uncertainty could trigger high volatility as investors have been riding waves.

Bitcoin BTC $108 030 24h volatility: 2.7% Market cap: $2.15 T Vol. 24h: $58.49 B , along with the broader crypto market, recorded yet another short-lived upward momentum on Oct. 20 as bears took control once again.

The global crypto market cap decreased by 3% to $3.66 trillion, according to CoinMarketCap data . BTC plunged from its daily high of over $111,700 to $108,000 again.

However, CryptoQuant analyst Burak Kesmeci wrote that the Bitcoin selling pressure on Binance has “sharply” declined.

Selling Pressure Fad

See Full Page