Jump Crypto Unloads 286.83 BTC on Binance in Week's Largest Transfer
Jump Crypto has made another significant transfer to Binance, depositing 286.83 BTC (~$18.01M) into the exchange.
This brings the total amount of Bitcoin deposited by Jump Crypto this week to 1.56K BTC (~$99.2M), with a remaining balance of 1.41K BTC (~$88.58M) still on its way to Binance.
The purpose of these transfers, according to market makers, is for inventory management and two-sided quoting rather than outright liquidation.
Bitcoin's price currently trades at $62,992.1 within the Bollinger Bands, with an upper resistance level at $64,011.96 and a lower support level at $62,612.58.
The 4-hour structure for Bitcoin remains bearish below both the EMA50 at $63,736.71 and the EMA200 at $63,691.18; the RSI is at 37.33 and sits neutral, while the MACD has printed a golden cross, suggesting that any push toward upper-band resistance will likely meet supply before a retracement tests the 50-EMA confluence zone.