Bitcoin Whale Deposits Reach Decade High Amid Ongoing Bear Market

CryptoQuant reports that Bitcoin whale deposits have hit a decade high as the bear market deepens.

The on-chain analytics firm notes that large holders, known as whales, now account for 64% of all Bitcoin exchange deposits by volume, pushing the Exchange Whale Ratio to 0.64, the highest reading since October 2015.

CryptoQuant also observes that the average Bitcoin exchange inflow per transaction has climbed to 1.58 Bitcoin in February, the highest since June 2022.

The firm believes this behavior mirrors distribution patterns seen in past bear phases and is a sign that the sharpest phase of the sell-off may have passed, though exchange flows remain above levels recorded in prior months.