Bitcoin exchange net inflows reached 9,905 BTC on April 27, marking the largest single-day inflow in the past 30 days, according to CryptoQuant analyst Woominkyu. Despite this influx, Bitcoin's price struggled to break the $78,000 resistance level. The exchange whale ratio also rose to 0.707, the highest in over a week, indicating that over 70% of the top 10 inflow transactions were from large holders transferring BTC to exchanges.
Additionally, exchange reserves increased from 2.666 million BTC on April 25 to 2.677 million BTC by April 28. Woominkyu suggests that if these inflows are not quickly absorbed, Bitcoin may retest the $74,000 to $75,000 support range in the short term.
Bitcoin Exchange Inflows Surge to 9,905 BTC, Highest in 30 Days
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
