Bitcoin Exchange Reserve Surges, Market Needs Fresh Demand
The post Bitcoin Exchange Reserve Surges, Market Needs Fresh Demand appeared on BitcoinEthereumNews.com.
Key Notes Bitcoin’s 14-day RSI fell into deeply oversold territory. On Feb. 2, holders of 6 to 12-month-old coins transferred about 5,000 BTC to Binance. Miners sent roughly 175,000 BTC to Binance in January. Bitcoin BTC $78 193 24h volatility: 0.9% Market cap: $1.56 T Vol. 24h: $59.48 B recently dropped to $74,000 after failing to hold the November lows, extending a sharp pullback that has weakened short-term momentum. At the time of writing, the cryptocurrency is trading around $78,000 as the market sees a short-term relief. The 14-day Relative Strength Index has fallen into deeply oversold territory amid intense downside pressure. According to Glassnode, spot trading volume has rebounded during the move, but it is more consistent with risk repositioning than fresh demand. #Bitcoin fell to $74K after losing the November lows, with 14D RSI deep in oversold. Spot volume rebounded, but looks reactive, signalling churn in downside continuation, not dip buying. Read more in this week’s Market Pulse👇https://t.co/ubkHWTTOz2 pic.twitter.com/4ODmioLQho — glassnode (@glassnode) February 2, 2026 On-chain data shows a notable rise in Bitcoin transfers to Binance from whales and mid-term investors. On Feb. 2, 6 to 12-month-old coins deposited around 5,000 BTC to Binance. This was the first inflow of this size from that cohort since early 2024. Bitcoin exchange inflow by holder age | Source: CryptoQuant Whale behavior also shows a similar pattern. Wallets holding more than 1,000 BTC transferred roughly 5,000 BTC to Binance on Feb. 2. It was the second inflow of this size after a similar spike on Dec. 18. Notably, after the December event, Bitcoin did not fall immediately, but later declined below $80,000. Bitcoin whale to Binance inflow | Source: CryptoQuant Miner Transfers Add to Exchange Supply CryptoQuant data shows that miners transferred about 175,000 BTC to Binance during January. Several…
Filed under: News - @ February 3, 2026 11:26 am