The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Amid geopolitical uncertainty and weakening demand for spot Bitcoin ETFs, the leading cryptocurrency is facing mounting technical pressure. According to reports, Binance has recorded net positive Bitcoin deposits for nearly 10 consecutive days. This trend reflects a growing inclination among traders to move assets to centralized exchanges, a move that often precedes increased selling pressure and heightened market volatility.
This accumulation on exchanges occurs as major altcoins struggle to maintain momentum, with peers like Ethereum and Solana showing sideways to bearish price action per market data. Compared to the first quarter of 2024, the pace of inflows into U.S. spot ETFs has decelerated significantly, reducing the institutional support that previously drove prices toward record highs.
Investors are now closely monitoring critical support levels, with Bitcoin trading at $68,420 (close May 24, 2026). Looking ahead, the market will focus on upcoming inflation data from the UK and Canada on May 19 and 20 per the economic calendar, as global monetary policy shifts continue to dictate risk appetite across digital asset markets.
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