BITCOIN EXCHANGE INFLOWS SURGE AS BTC HITS NEW ATH AT $123.2K
Bitcoin exchange inflows jumped sharply on July 15, coinciding with BTC’s climb to a fresh all-time high of $123,218. Data from CryptoQuant shows:
• $BTC exchange inflows rose from 54.15K to 63.1K BTC (+3%)
• Exchange reserves increased by 0.91%, reaching 2.265M BTC
• Netflow turned positive, up 3.73% to 21.81K BTC
• Top 10 exchange inflows grew 3.17% to 3.656K BTC
• Depositing addresses rose 1.13%, and depositing transactions increased 1.03%
At the time of publication, total inflows stood at 83.99K BTC, a 2.37% daily increase, with rising on-chain activity pointing to significant whale involvement.
Whale Activity and Market Impact
According to CryptoQuant analysts:
• A 14-year-old dormant wallet moved 20K BTC, likely to centralized exchanges
• One whale reportedly deposited 1.8K BTC to Binance, with 35%+ of inflow transactions exceeding $1M
• The surge suggests short-term profit-taking, not panic selling
• Historically, these inflow spikes have led to 8–12% pullbacks within 48 hours, as seen in March 2024
Despite the rise in exchange inflows, the market remains structurally bullish, and long-term holders are still accumulating.
Volatility Ahead?
CryptoQuant’s Julio Moreno cautioned that increasing exchange inflows often precede price volatility, as whales may hedge or rotate positions. He added that recent BTC rallies appear calmer than past bull markets in 2021 and 2017.
Previously on July 11, Moreno noted BTC inflows had dropped to a 9-year low at 18K BTC, signaling reduced sell pressure. That trend seems to have reversed in the short term.
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Conclusion: While the surge in BTC exchange inflows suggests possible near-term consolidation or correction, the overall sentiment remains bullish, with whales showing tactical moves rather than full exits.
