Over these past 7 days, BTC inflows to exchanges have risen sharply, peaking as BTC tried to break through this major $80 000 resistance.

Unsurprisingly, Binance, the exchange with the highest trading volumes, saw the most BTC flow through, with an average inflow of 10 700 BTC.

The trend is also confirmed on the institutional side, with Coinbase Advanced totaling an average inflow of 7 100 BTC.

Kraken and OKX both saw inflows of over 2 000 BTC as well.

This data suggests that the $80 000 level acts as an exit door for many investors, who don't hesitate to lock in small profits or cut their losses.

It's worth noting that this $80 000 level represents the average cost basis of all capital invested in BTC, making it a key level where profits and losses balance out, triggering different reactions among investors.

Over the past few days, this selling pressure appears to be easing as BTC's price pulls back. Despite this selling, BTC remains very close to $80 000, and if the selling pressure keeps easing, Bitcoin is likely to quickly test this resistance again.

Written by Darkfost