Source: Cointelegraph.com NewsKey points:<\/p>\n
Bitcoin exchange 100-day average netflows are at their most negative since the start of the current bull market in 2023.
\nExchange balances continue to plumb new multiyear lows.
\nWhales are particularly active buyers this month, while retail shows classic \u201cpanic selling.\u201d<\/p>\n
Bitcoin (BTC) exchanges are evoking the end of the 2022 crypto bear market as user inflows dry up this year. Source: Cointelegraph.com NewsKey points: Bitcoin exchange 100-day average netflows are at their most negative since the start of the current bull market in 2023. Exchange balances continue to plumb new… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127868"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127868"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127868\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127868"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nData from onchain analytics platform CryptoQuant reveals exchanges\u2019 average net flows hitting two-year records.
\nBitcoin analysis eyes \u201creaccumulation of assets\u201d
\nBitcoin may be trading significantly higher than at the start of 2023, but demand for BTC among exchange users is reminiscent of the start of a bull market.
\nCryptoQuant reveals that the 100-day simple moving average (SMA) of exchange net flows recently hit its most negative figure in two years.
\n\u201cThis essentially indicates the highest Bitcoin outflow from exchanges since that date,\u201d contributor CryptoOnChain commented in one of its \u201cQuicktake\u201d blog posts on April 23.\u00a0
\n\u201cA review of historical patterns suggests that this could imply re-accumulation of assets by investors.\u201d
\nBitcoin exchange netflow 100-day SMA. Source: CryptoQuantA negative net flow tally indicates outflows from exchange surpassing inflows, reflecting more user demand than a desire to send BTC to exchange accounts for a potential sale.
\nAs Cointelegraph reported, overall exchange BTC balances are at their lowest in many years.
\nCryptoQuant shows reserves hitting 2.535 million BTC in early April, down over 7% from 2.740 million BTC at the start of the year.
\nBitcoin exchange reserve. Source: CryptoQuantWhales buy while retail exits
\nElsewhere, larger Bitcoin entities have added to their portion of the supply throughout April, even as smaller retail investors sell.
\nRelated: Bitcoin ETF inflows top 500 times 2025 average in \u2018significant deviation\u2019
\n\u201cWhales (1k-10k balance) have been accumulating hard since March, even as price slid,\u201d crypto analyst Miles Deutscher noted on X this week alongside CryptoQuant data.\u00a0
\n\u201cEvery time prices drop, whales accumulate into retail panic selling.\u201d
\nBitcoin 1K BTC+ balance data. Source: Miles Deutscher\/XResearch firm Santiment drew similar conclusions about entities holding at least 10 BTC, which it referred to as \u201ckey stakeholders.\u201d
\n\u201cBitcoin\u2019s key stakeholders comprised of wallets holding between 10 & 10K BTC currently hold 67.77% of the entire supply of crypto\u2019s top market cap asset,\u201d an X post reported.\u00a0
\n\u201cDuring the April volatility, these wallets continue to accumulate, and have now added over 53.6K BTC since March 22nd.\u201d
\nBitcoin 10 BTC+ balance data. Source: Santiment\/XThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"