CryptoQuant, a platform specializing in cryptocurrency analytics, has uncovered that the recent surge of Bitcoin transfers to exchanges is primarily driven by large investors who have recently acquired Bitcoin, rather than long-term holders.
Examining on-chain data from when Bitcoin was priced around $65,800 reveals that 70.41% of the coins deposited onto exchanges belonged to these sizable investors. However, within this category, there is a notable distinction.
The figures indicate that large investors who made recent purchases moved nearly 138,000 Bitcoins to exchanges—representing almost all current inflows. Conversely, those holding Bitcoin for an extended period transferred only about 7,500 Bitcoins. This pattern implies that the selling pressure arises mainly from newer buyers offloading at losses instead of seasoned holders taking profits. Meanwhile, total Bitcoin reserves on exchanges have climbed by over 32,000 since January and now stand at approximately 2.75 million coins.
The key macroeconomic trigger behind this selling wave was the hike in global tariffs to 15%. This development heightened market risk aversion; investors sought refuge in gold while Bitcoin slipped below its $65,000 support mark and dropped between four and five percent within a day. The price decline caused liquidations worth hundreds of millions in leveraged positions and forced recently active large investors into defensive maneuvers.
CryptoQuant’s insights suggest this influx toward exchange wallets stems largely from new major players exiting positions at losses rather than profit-taking by veteran holders. Ongoing macroeconomic uncertainties are accelerating these movements with $60,000 emerging as a critical short-term support level for Bitcoin’s price trajectory. Whether this strong flow into exchanges diminishes soon will be pivotal for determining future market direction.
This content does not constitute financial advice.