Bitcoin 7-Day Average Exchange Inflow at 4,678 BTC

Despite the rebound in Bitcoin (BTC), the volume flowing into spot exchanges has not increased. On September 8, the closing price of Bitcoin was $78,450, and despite the rebound from $60,000 during the summer, large deposit volumes did not surge. According to CryptoQuant, the daily inflow to the top 10 spot exchanges on September 8 was 5,442 BTC, which is a 4.4-fold increase from the previous day, but only a 5.1% increase compared to the 30-day average. The 7-day average inflow was 4,678 BTC, which is lower than the peak earlier this year. The inflow to exchanges indicates the flow of Bitcoin being moved to exchange wallets, but not all inflows lead to selling. It is noteworthy that large deposits did not unusually expand during the price rebound, which limits the interpretation of alleviating ongoing selling pressure. Analysts assessed the inflow rebound on September 8 as a regression to recent trends and emphasized the need to examine the directionality of the 7-day average inflow. Changes in the 7-day average inflow will be an important observation point in the event of future price weakness.