Binance recorded a Bitcoin selloff of over $2 billion.

Analysts have noted an interesting dynamic. Binance recorded a record-breaking $2 billion Bitcoin (BTC) selloff, leading to a price decline and sellers taking control. According to Arab Chain, trading dynamics in the second half of September reveal sharp shifts in market behavior. From the 17th to the 19th, the platform's derivatives index increased significantly as the BTC price rose above $117,000. Analysts believe this indicated a noticeable increase in buying activity, possibly related to institutional injections or a general surge in optimism.

However, the situation changed on September 20. The index began to decline, and the upward momentum weakened. As a result, the Bitcoin (BTC) price returned to the $114,000–$115,000 range. September 22 saw a sharp surge in trading volume, with strong buy and sell orders being placed. The outcome favored the latter. Within one hour, buy and sell volume totaled $1.79 billion, while sell orders reached $2.29 billion. The ratio fell below 1, confirming the bearish advantage.

These figures indicate significant pressure from traders with negative sentiment. The excess of sales over purchases in such a short period explains the price decline and may indicate the actions of large funds or “whales” rather than retail investors. The simultaneous presence of such significant volumes on both sides underscores the intense struggle for market control, but sellers retained the upper hand.

Between September 23 and 24, the market entered a consolidation phase. BTC prices stabilized in the $112,000–$113,000 range, with indicators pointing to short-term fluctuations. Analysts are calling this a “liquidity test.” Market participants are awaiting an external event that will act as a catalyst and determine the future direction.

Source: cryptonews.net