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CryptoQuant stated that as Bitcoin surged above $76,000, a large volume of BTC is flowing into cryptocurrency exchanges, indicating “short-term selling pressure” in the market. Data shows the hourly inflow to exchanges spiked to 11,000 BTC—the highest level since December last year—while the average deposit size rose to 2.25 BTC, the largest since July 2024. CryptoQuant noted that the realized price near $76,800 could act as a resistance level for this rally, as traders nearing their break-even points may have stronger incentives to sell.
Odaily News CryptoQuant indicates that Bitcoin's recent rally is facing increasing risks of selling pressure, with on-chain data showing a significant rise in funds flowing into exchanges.Bitcoin previously broke through $76,000 but faced downward pressure and retreated when approaching the key resistance zone around $76,800. This level corresponds to the "on-chain realized price" range, which has historically often acted as a top for rallies, as many investors whose holdings are nearing breakeven tend to sell.Data shows that the hourly inflow of Bitcoin into exchanges has risen to approximately 11,000 BTC, the highest level since late 2025, which is typically viewed as a potential signal of selling pressure. Simultaneously, the scale of transfers into exchanges by large holders (whales) is also expanding.Analysis suggests that if this resistance level remains effective, Bitcoin may face short-term correction pressure, with a key support level around $67,600.
According to Cointelegraph, JP Richardson, CEO of Exodus, stated that financial institutions have accelerated their participation in the cryptocurrency market this year—including stablecoin market capitalization reaching an all-time high, Morgan Stanley launching a Bitcoin ETF, Schwab opening a waitlist for spot Bitcoin trading, Franklin Templeton establishing a cryptocurrency division, and Fannie Mae accepting Bitcoin as collateral for loans. Unlike previous cycles, institutional investors have stood out during this bull run, while retail participation has declined sharply. Data from CryptoQuant analyst Darkfost shows that inflows into small accounts holding less than 1 BTC on Binance have hit a record low, with retail activity dropping to its lowest level in nine years. Some retail investors have shifted toward equities and commodities markets. Analysts attribute the absence of retail investors primarily to the cost-of-living crisis and inflationary pressures.
CryptoQuant analyst Darkfost posted on X, stating that the current U.S. inflation structure has gradually become clearer. Although the March CPI recorded the largest month-on-month increase since 2022, core CPI remained largely unchanged, indicating that inflationary pressures have not yet broadly diffused. This trend warrants continued monitoring in upcoming PCE data and over the coming months. So long as this structure persists, it suggests inflation has not yet become systematically embedded in the U.S. economy—instead remaining a temporary phenomenon, potentially linked to geopolitical conflicts. However, if the U.S.-Iran conflict drags on, inflation could gradually evolve into a systemic risk and begin impacting economic growth, at which point the Federal Reserve may be forced to continue raising interest rates.