In brief
- Bitcoin deposits on exchanges have dropped from their daily peak of around 60,000 BTC on February 6.
- Yet while sell pressure is easing, the biggest overall depositors are the largest holders, or whales.
- The price of Bitcoin is down 46% since peaking above $126,000 last October.
A major influx of Bitcoin deposits to centralized exchanges has slowed, reducing sell pressure on crypto’s top asset by market cap. But the largest investors, or whales, have kept their foot on the gas, according to a new report from CryptoQuant.
The Bitcoin deposited on exchanges had reached around 60,000 BTC on February 6 as the price of the coin slipped near $60,000. That number has since fallen to around 23,000 BTC on average over the last seven days, the blockchain analytics firm indicated.
“This moderation suggests that the acute sell-off phase has eased, even as exchange flows remain elevated relative to prior months,” the report reads. “Lower exchange inflows put less selling pressure on prices.”
While the inflows are declining from their early-month levels, their makeup has shifted to favor large depositors. CryptoQuant’s “Exchange Whale Ratio,” which compares the top 10 inflows to the entire influx of deposits, has reached 0.64—its highest mark since 2015.
“This indicates that 64% of all Bitcoin exchange inflows were made by the top 10 by volume, suggesting that large investors are selling,” the firm wrote.
Whales lining up to sell the top asset was a key theme of 2025, in which an “unprecedented amount” of coins changed hands, CryptoQuant analyst J.A. Maartun told Decrypt in December.
“I call this the ‘great redistribution,’ during which Bitcoin held by long-term holders has been transferred to new owners in several waves,” Maartun said at the time.
BTC climbed to $126,080 in October, creating a new all-time high mark. But since that time, it’s fallen 46% to recently change hands at $67,582.
A near-term jump might not be in the cards either. Previous analysis from CryptoQuant indicates the asset’s "ultimate bear market bottom” is around $55,000, and its exchange analysis points to diminishing “dry powder” or USDT available to buy crypto assets.
“Crypto price rallies are often accompanied by increasing stablecoin exchange deposits,” the firm wrote.
Users on Myriad—a prediction market platform operated by Decrypt’s parent company, Dastan—agree that Bitcoin’s next big move is down, currently penciling in a 57% chance that the price of BTC falls to $55,000 sooner than it can rebound to $84,000.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
DoorDash accounts became a vulnerability in an encryption wrench attack; three suspects have been charged
Three men were indicted for participating in a crypto wrench attack. The method used in the crime involved using stolen delivery-app account credentials to get close to the victims, and then threatening them with violence to force them to transfer their crypto assets. This type of attack is not limited to San Francisco and has become a global problem, threatening the safety of cryptocurrency holders. Prevention recommendations include not disclosing holdings information, using different receiving addresses, and enabling two-factor authentication.
MarketWhisper17m ago
XRP Leads $224 Million Weekly Inflows as Ethereum Lags and Bitcoin Sentiment Remains Mixed
Global digital asset investment products recorded $224 million in net inflows for the week ending April 3, 2026, following a $414 million outflow the prior week, with XRP dominating at $119.6 million while Ethereum saw $52.8 million in outflows and Bitcoin posted $107.3 million in net inflows amid polarized investor sentiment.
CryptopulseElite28m ago
U.S.-Iran ceasefire drives Bitcoin higher—will this be a short-term rebound or the start of a new bull market?
Affected by the U.S.-Iran ceasefire agreement, the cryptocurrency market rebounded noticeably. Bitcoin briefly broke above $72,700, then fell back to around $71,695, with a gain of 4.3%. Analysts said this rally may be driven by short-term liquidity, while the long-term outlook remains uncertain; investors should watch changes in the macroeconomic environment and the situation in the Middle East.
GateNews1h ago
Charles Schwab Investment Management releases a cryptocurrency investment research report, saying that even a small allocation can increase portfolio risk
Charles Schwab Investment Management published a report stating that cryptocurrency investments do not have a fixed allocation percentage and should be determined based on investors’ goals and risk tolerance. It proposes two investment approaches: return-based and risk-based, and also notes that a modest increase in crypto asset allocation can improve portfolio performance, and that cryptocurrencies can provide diversified returns for traditional asset portfolios.
GateNews1h ago
Bitcoin reclaims $72K after US, Iran agree to 2-week ceasefire
Bitcoin surged past $72,000 after a two-week ceasefire between the US and Iran was announced. Traders often react positively to eased geopolitical tensions, despite overall market fear.
Cointelegraph2h ago
