Analyst: The large deposit volume at the exchange has not surged with the BTC rebound, indicating limited potential selling pressure

CryptoQuant analyst Woominkyu pointed out that Bitcoin closed at $78,450 on September 8, continuing the rebound momentum from around $60,000 during the summer, while there was no simultaneous surge in large deposits at spot exchanges.

Data shows that on September 8, the daily inflow of the top ten spot exchanges was 5,442 BTC, which is 4.4 times that of the previous day, but only 5.1% higher than the 30-day average. The seven-day average inflow was 4,678 BTC, lower than several peaks earlier this year. From a more macro perspective, the recent price rebound has not been accompanied by an abnormal increase in large deposit activity, providing limited evidence for assessing the ongoing selling pressure from large transfers.

What needs to be focused on next is whether the seven-day average inflow will continue to rise while prices weaken. For now, the deposit rebound on September 8 seems more like a return to recent norms rather than an abnormal spike.