Analyzing exchange inflows provides valuable insights into the selling pressure in the market, especially when it comes from whales.
Most of the time, when coins are sent to an exchange, it's primarily with the intention to sell.
For now, whale activity remains fairly neutral.
As we can see here, the volumes sent to exchanges are quite low.
If we compare this to previous market tops, we saw inflow spikes exceeding one billion dollars.
Today, only around $300M is being sent to exchanges, a relatively low level, especially considering that BTC is currently in price discovery.
They're probably waiting for more upside before ramping up their selling.
Written by Darkfost