Bitcoin Nears $80K Without Usual Whale Sell-Off Signals
CryptoQuant's data suggests that Bitcoin's push toward $80,000 is unfolding without a corresponding surge in large deposits to major spot exchanges.
The firm tracked 5,442 BTC in the ten largest spot-exchange inflow transactions on September 8, when Bitcoin closed at $78,450. This marked a 4.4-fold jump from the prior session, but still kept the day's activity within the range of normal large-holder behavior.
The seven-day moving average tells a similar story, sitting approximately 9.7% below the estimated monthly average. CryptoQuant analyst Woominkyu wrote that this provides 'limited evidence of a sustained increase in potential selling pressure from large transfers.'
In perspective, September's 5,442 BTC figure represents a normalization rather than an exceptional distribution event, as seen in late April when top-ten inflows dwarfed the latest reading.