Bitcoin Hits $78,450 Without Major Holder Sell-Off
Bitcoin has climbed to $78,450 after recovering from around $60,000 in early summer, but its approach towards $80,000 was not accompanied by a surge in large exchange deposits.
Data from CryptoQuant shows that the 10 largest spot-exchange inflow transactions accounted for 5,442 BTC on September 8, which is 4.4 times the previous day's figure of roughly 1,237 BTC.
However, this increase was only 5.1% above the 30-day average of approximately 5,178 BTC, and the seven-day moving average stood at 4,678 BTC per day, about 9.7% below the estimated monthly average.
This data suggests that Bitcoin's move towards $80,000 has not been accompanied by an exceptional wave of large-holder deposits into spot exchanges, contradicting expectations that major holders would be selling their coins as prices rise.