Over the past month, Bitcoin and Ethereum have shown distinctly different exchange inflow patterns, with Ethereum’s recent surge in inflows standing out sharply.
Bitcoin (BTC) inflows have remained relatively moderate, fluctuating between roughly 12K and 70K BTC per day. While there have been occasional spikes (notably around August 1st and mid-July), the broader pattern suggests no sustained wave of coins moving onto exchanges. This indicates that selling pressure from BTC holders has not significantly escalated, aligning with the idea that Bitcoin’s market sentiment remains relatively stable.
Ethereum (ETH), in contrast, has seen a clear and sustained uptick in exchange inflows in recent weeks. Daily inflows have repeatedly pushed above 2 million ETH in mid-August, peaking near 2.6 million ETH — a notable jump from late July levels, which often hovered below 1.5 million ETH. This surge suggests either heightened profit-taking activity or significant repositioning by large holders, possibly tied to recent market volatility or upcoming events in the Ethereum ecosystem.
The divergence is clear:
• BTC inflows remain within historical norms, showing no strong sign of panic selling or mass repositioning.
• ETH inflows have broken into elevated territory, suggesting a wave of liquidity being moved onto exchanges, which could translate into short-term selling pressure or active trading.
In short, while Bitcoin’s on-chain exchange flow data signals relative calm, Ethereum is experiencing a notable and sustained influx of coins onto exchanges — a development that traders and analysts should watch closely for potential market impact.
Written by XWIN Research Japan
