BTC is currently at $77,966, and over the past three reporting days, the exchange net flow has turned positive for consecutive days.
This means that the amount of BTC entering exchanges has begun to exceed the amount being withdrawn, so the potential supply of sellable holdings in the short term may be increasing. However, the magnitude of the recent net inflows is not extreme, and the 7-day average is still negative—overall, the past week has remained in net outflows.
So for now, this looks more like a shift at the margin in capital flows, and it’s not enough to directly conclude that large holders are concentrating their selling. The BTC transferred into exchanges could also be used for market making, custody adjustments, or adding margin, and it doesn’t necessarily enter the spot market.
Next, two signals matter: whether the exchange net inflow continues to expand, and whether BTC can absorb these newly added coins when it approaches $80,000.
If net inflows keep rising while the price repeatedly fails to break above $80,000, that would be stronger evidence that selling pressure from above is building. If net inflows end quickly and the price continues to hold steady in the current range, it’s more likely that this is just normal post-rally capital reallocation.
While this data alone can’t directly support a bearish view, it’s time to start paying attention to these potential sell-pressure signals.
This means that the amount of BTC entering exchanges has begun to exceed the amount being withdrawn, so the potential supply of sellable holdings in the short term may be increasing. However, the magnitude of the recent net inflows is not extreme, and the 7-day average is still negative—overall, the past week has remained in net outflows.
So for now, this looks more like a shift at the margin in capital flows, and it’s not enough to directly conclude that large holders are concentrating their selling. The BTC transferred into exchanges could also be used for market making, custody adjustments, or adding margin, and it doesn’t necessarily enter the spot market.
Next, two signals matter: whether the exchange net inflow continues to expand, and whether BTC can absorb these newly added coins when it approaches $80,000.
If net inflows keep rising while the price repeatedly fails to break above $80,000, that would be stronger evidence that selling pressure from above is building. If net inflows end quickly and the price continues to hold steady in the current range, it’s more likely that this is just normal post-rally capital reallocation.
While this data alone can’t directly support a bearish view, it’s time to start paying attention to these potential sell-pressure signals.
