CryptoQuant noted that the average deposit size also increased to 2.25 BTC, the highest since July 2024.
Bitcoin News
Hourly BTC inflows to crypto exchanges spiked to 11,000 BTC as Bitcoin briefly climbed above $76,000 on Tuesday, marking the highest rate of exchange deposits since December, according to a Wednesday report from CryptoQuant. The analytics firm said the surge is a warning sign of near-term selling pressure, as holders move coins to exchanges ahead of potential distribution.
BTC hit $76,052 on Tuesday, its highest price since early February. The move lifted investor optimism across the crypto market, but the accompanying shift in on-chain behavior has raised questions about how much further the rally can extend without triggering significant sell-side activity.
CryptoQuant noted that the average deposit size also increased to 2.25 BTC, the highest since July 2024. The firm drew a parallel to January, when average deposits peaked at 2 BTC before prices fell from $100,000 to roughly $60,000. It described the current pattern as "historically reliable" in preceding price stalls or reversals at key resistance levels.
The $76,800 level represents Bitcoin's realized price, which CryptoQuant described as a ceiling for relief rallies. Traders who bought near that price and are approaching breakeven are likely to sell, the firm said, capping potential upside. The same dynamic played out in January, when Bitcoin's rally reversed as it converged with the realized price at the time.
Daily realized profits currently sit around $500 million, below the $1 billion threshold that CryptoQuant said has historically coincided with, or slightly preceded, local price tops. If BTC pushes above $76,000 again or moves toward the $76,800 realized price, realized profits could cross that level, increasing the probability of a stall or reversal.
CryptoQuant noted that profit-taking remains in its early stages, meaning the sell pressure building from exchange inflows has not yet reached the scale seen at prior cycle tops. The $67,600 level was identified as near-term support in the event of a pullback from current levels.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
