Bitcoin deposits to crypto exchanges jumped sharply on Tuesday as the asset climbed past $76,000, signaling potential “near-term selling pressure,” according to CryptoQuant. The surge suggests investors may be positioning their holdings for sale.
In a report released Wednesday, CryptoQuant noted that both the volume and pace of Bitcoin inflows to exchanges increased during the rally, with hourly deposits reaching 11,000 BTC — the highest level since December.
The firm described this trend as a “historically reliable warning signal” of short-term selling pressure, as holders typically move funds to exchanges ahead of distribution at key resistance levels.
CryptoQuant also highlighted that the average deposit size rose to 2.25 BTC, the highest since July 2024. This mirrors patterns seen in January, when average deposits peaked at 2 BTC before Bitcoin’s price dropped sharply from $100,000 to $60,000.
While investors have been optimistic about a Bitcoin rally amid signs of de-escalation in the Iran conflict, the increase in exchange inflows suggests any upward momentum could be limited.
Data from TradingView shows Bitcoin reached $76,052 on Coinbase on Tuesday, marking its highest level since early February.
However, CryptoQuant warned that as Bitcoin approaches its realized price of $76,800, it may face strong resistance. Traders nearing breakeven levels could be more inclined to sell, potentially capping further gains.
The report added that a similar pattern occurred in January, when Bitcoin’s rally stalled at its realized price before reversing — a scenario that could repeat if selling pressure continues to build.
CryptoQuant noted that profit-taking remains “in its early stages,” with daily realized profits around $500 million—well below the $1 billion level that has historically aligned with, or slightly preceded, local market tops.
The firm added that realized profits could surpass $1 billion if Bitcoin continues to climb above $76,000 or approaches its $76,800 realized price. Such a move could intensify selling pressure and raise the chances of the rally stalling or reversing.
